Aviance Capital Partners LLC Acquires 706 Shares of Cigna Group (NYSE:CI)

Aviance Capital Partners LLC raised its position in Cigna Group (NYSE:CI) by 3.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 19,255 shares of the health services provider’s stock after purchasing an additional 706 shares during the period. Cigna Group accounts for approximately 0.9% of Aviance Capital Partners LLC’s portfolio, making the stock its 23rd largest position. Aviance Capital Partners LLC’s holdings in Cigna Group were worth $6,335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC bought a new position in Cigna Group during the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at about $36,000. Transce3nd LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at about $38,000. Ameriflex Group Inc. purchased a new stake in shares of Cigna Group in the fourth quarter valued at about $44,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Price Performance

CI stock opened at $319.48 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm’s fifty day moving average is $320.06 and its 200 day moving average is $309.00. The firm has a market cap of $85.34 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.95 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 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $6.47 EPS. Research analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.89%. Cigna Group’s dividend payout ratio is 33.44%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho increased their target price on shares of Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Guggenheim reiterated a “buy” rating and issued a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. Piper Sandler boosted their target price on shares of Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Robert W. Baird dropped their target price on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Cigna Group has a consensus rating of “Buy” and an average target price of $380.39.

About Cigna Group

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.