Avestar Capital LLC Cuts Stock Position in The Cigna Group (NYSE:CI)

Avestar Capital LLC trimmed its position in shares of The Cigna Group (NYSE:CI) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,461 shares of the health services provider’s stock after selling 361 shares during the quarter. Avestar Capital LLC’s holdings in The Cigna Group were worth $956,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CI. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the fourth quarter valued at about $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter worth about $37,000. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the third quarter worth about $45,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $53,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Cantor Fitzgerald lowered their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Raymond James reissued a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Stock Performance

CI opened at $299.99 on Friday. The firm has a fifty day moving average price of $287.42 and a 200 day moving average price of $321.61. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market cap of $83.44 billion, a P/E ratio of 24.51, a P/E/G ratio of 0.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the business earned $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The Cigna Group’s payout ratio is 45.75%.

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.