The Cigna Group (NYSE:CI) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lowered its stake in shares of The Cigna Group (NYSE:CI) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,481 shares of the health services provider’s stock after selling 96 shares during the quarter. Checchi Capital Advisers LLC’s holdings in The Cigna Group were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $34,000. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $37,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the 4th quarter valued at $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $305.15 on Thursday. The firm has a market capitalization of $84.88 billion, a P/E ratio of 24.93, a PEG ratio of 0.98 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company’s fifty day moving average is $288.33 and its two-hundred day moving average is $318.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 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. Analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.98%. The Cigna Group’s payout ratio is currently 49.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a report on Friday, January 31st. UBS Group dropped their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $372.31.

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.