Checchi Capital Advisers LLC Decreases Stock Position in The Cigna Group (NYSE:CI)

Checchi Capital Advisers LLC cut its holdings in The Cigna Group (NYSE:CI) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,481 shares of the health services provider’s stock after selling 96 shares during the period. Checchi Capital Advisers LLC’s holdings in The Cigna Group were worth $961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group during the 4th quarter valued at about $4,367,000. Marks Group Wealth Management Inc increased its stake in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after acquiring an additional 858 shares during the last quarter. Finally, Valley Wealth Managers Inc. increased its stake in shares of The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after acquiring an additional 1,548 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald dropped their price objective 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. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley dropped their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Truist Financial dropped their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $372.31.

The Cigna Group Stock Down 2.8 %

NYSE CI opened at $305.15 on Thursday. The stock has a market cap of $84.88 billion, a PE ratio of 24.93, a P/E/G ratio of 0.98 and a beta of 0.54. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50 day moving average price of $288.33 and a two-hundred day moving average price of $318.98. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $6.79 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is a boost 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 ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

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.