Avidian Wealth Solutions LLC Acquires 73 Shares of The Cigna Group (NYSE:CI)

Avidian Wealth Solutions LLC grew its stake in The Cigna Group (NYSE:CI) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,401 shares of the health services provider’s stock after purchasing an additional 73 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in The Cigna Group were worth $719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parnassus Investments LLC bought a new position in The Cigna Group during the 3rd quarter worth about $731,041,000. FMR LLC raised its position in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after buying an additional 1,939,554 shares during the last quarter. Cerity Partners LLC lifted its stake in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after acquiring an additional 538,274 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in The Cigna Group by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after acquiring an additional 345,605 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of The Cigna Group by 127.3% during the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after acquiring an additional 317,081 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on CI shares. Mizuho increased their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Wells Fargo & Company upped their target price on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Price Performance

Shares of NYSE:CI traded up $0.79 during trading on Monday, reaching $342.29. 495,997 shares of the company traded hands, compared to its average volume of 1,580,438. The firm has a market capitalization of $97.23 billion, a PE ratio of 28.04, a PEG ratio of 1.04 and a beta of 0.57. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. 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 company’s 50 day moving average is $350.77 and its two-hundred day moving average is $319.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion for 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 business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.41 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 28.45 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is presently 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 Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group 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.