The Cigna Group (NYSE:CI) Position Increased by Avestar Capital LLC

Avestar Capital LLC raised its stake in The Cigna Group (NYSE:CI) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,822 shares of the health services provider’s stock after acquiring an additional 50 shares during the period. Avestar Capital LLC’s holdings in The Cigna Group were worth $1,324,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CI. Waverly Advisors LLC increased its position in shares of The Cigna Group by 132.5% in the first quarter. Waverly Advisors LLC now owns 4,829 shares of the health services provider’s stock worth $1,754,000 after acquiring an additional 2,752 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in The Cigna Group during the 1st quarter worth about $3,564,000. B. Riley Wealth Advisors Inc. grew its stake in The Cigna Group by 12.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,305 shares of the health services provider’s stock valued at $2,653,000 after acquiring an additional 795 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its holdings in shares of The Cigna Group by 26.0% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,700 shares of the health services provider’s stock valued at $1,344,000 after purchasing an additional 763 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after purchasing an additional 4,043 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $332.73 on Tuesday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a market cap of $92.55 billion, a P/E ratio of 31.39, a P/E/G ratio of 0.99 and a beta of 0.51. The business’s 50 day moving average is $334.74 and its two-hundred day moving average is $338.63. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. On average, equities analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CI. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $394.64.

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.