Avior Wealth Management LLC Increases Holdings in Cigna Group (NYSE:CI)

Avior Wealth Management LLC increased its stake in Cigna Group (NYSE:CI) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,556 shares of the health services provider’s stock after purchasing an additional 44 shares during the quarter. Avior Wealth Management LLC’s holdings in Cigna Group were worth $512,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Two Sigma Investments LP grew its position in Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock worth $211,219,000 after buying an additional 188,235 shares in the last quarter. Humankind Investments LLC grew its position in Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after buying an additional 571 shares in the last quarter. NBC Securities Inc. purchased a new position in Cigna Group during the first quarter worth about $123,000. Pine Valley Investments Ltd Liability Co grew its position in Cigna Group by 10.5% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 17,366 shares of the health services provider’s stock worth $4,796,000 after buying an additional 1,653 shares in the last quarter. Finally, BankPlus Trust Department purchased a new position in Cigna Group during the fourth quarter worth about $332,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial boosted their target price on Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Guggenheim reiterated a “buy” rating and issued a $388.00 price objective on shares of Cigna Group in a report on Friday, May 23rd. Cantor Fitzgerald upped their price objective on Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Cowen reiterated a “buy” rating on shares of Cigna Group in a report on Monday, May 5th. Finally, Wall Street Zen upgraded Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $380.39.

Cigna Group Trading Down 0.2%

NYSE CI opened at $313.76 on Friday. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average of $321.48 and a 200-day moving average of $307.63. The firm has a market cap of $83.82 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44.

Cigna Group (NYSE:CI) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the company posted $6.47 EPS. Cigna Group’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s payout ratio is 33.44%.

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.