Aviance Capital Partners LLC Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Aviance Capital Partners LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,318 shares of the health services provider’s stock after selling 380 shares during the quarter. The Cigna Group makes up about 1.1% of Aviance Capital Partners LLC’s holdings, making the stock its 21st biggest holding. Aviance Capital Partners LLC’s holdings in The Cigna Group were worth $5,186,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bogart Wealth LLC increased its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management purchased a new position in shares of The Cigna Group during the third quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group in the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC boosted its position in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. grew its holdings in shares of The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI traded up $0.91 during trading on Monday, reaching $342.41. 1,320,046 shares of the company traded hands, compared to its average volume of 1,590,367. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $350.77 and a 200-day simple moving average of $319.93. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The stock has a market capitalization of $97.27 billion, a PE ratio of 28.11, a P/E/G ratio of 1.04 and a beta of 0.57.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.41 EPS. Equities research analysts anticipate that The Cigna Group will post 28.45 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s payout ratio is 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 in the last three months. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CI shares. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Barclays assumed coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Finally, Cantor Fitzgerald upped their price target on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $366.14.

The Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.