Private Advisor Group LLC Has $3.87 Million Holdings in The Cigna Group (NYSE:CI)

Private Advisor Group LLC trimmed its position in shares of The Cigna Group (NYSE:CI) by 30.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,995 shares of the health services provider’s stock after selling 6,226 shares during the period. Private Advisor Group LLC’s holdings in The Cigna Group were worth $3,865,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bryn Mawr Capital Management LLC raised its position in The Cigna Group by 5,367.4% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 64,570 shares of the health services provider’s stock valued at $17,830,000 after acquiring an additional 63,389 shares in the last quarter. Alberta Investment Management Corp bought a new position in shares of The Cigna Group during the 4th quarter valued at $608,000. Financial Perspectives Inc lifted its stake in shares of The Cigna Group by 6,200.0% in the 4th quarter. Financial Perspectives Inc now owns 378 shares of the health services provider’s stock valued at $104,000 after purchasing an additional 372 shares during the last quarter. Davidson Investment Advisors boosted its holdings in The Cigna Group by 1.0% in the fourth quarter. Davidson Investment Advisors now owns 53,846 shares of the health services provider’s stock worth $14,869,000 after purchasing an additional 559 shares in the last quarter. Finally, Valley Wealth Managers Inc. increased its position in The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after buying an additional 1,548 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $299.92 on Monday. The firm has a market capitalization of $83.42 billion, a PE ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business’s 50 day moving average is $286.35 and its 200-day moving average is $319.47.

The Cigna Group (NYSE:CI) last posted 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 quarter last year, the company posted $6.79 EPS. Sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CI shares. Truist Financial reduced their price target on 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. Raymond James restated 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. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently 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.