Aviance Capital Partners LLC Buys 550 Shares of The Cigna Group (NYSE:CI)

Aviance Capital Partners LLC increased its stake in The Cigna Group (NYSE:CI) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,868 shares of the health services provider’s stock after acquiring an additional 550 shares during the period. The Cigna Group comprises about 1.0% of Aviance Capital Partners LLC’s holdings, making the stock its 20th largest holding. Aviance Capital Partners LLC’s holdings in The Cigna Group were worth $6,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Asset Advisory Services LLC lifted its stake in shares of The Cigna Group by 2.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after acquiring an additional 29 shares during the last quarter. First Financial Corp IN increased its holdings in The Cigna Group by 17.2% during the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock valued at $82,000 after purchasing an additional 33 shares during the period. Somerset Trust Co increased its holdings in The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock valued at $802,000 after purchasing an additional 34 shares during the period. Relyea Zuckerberg Hanson LLC increased its holdings in The Cigna Group by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after purchasing an additional 35 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in The Cigna Group by 1.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,132 shares of the health services provider’s stock valued at $638,000 after purchasing an additional 36 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CI. Piper Sandler began coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, June 12th. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Two investment 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 stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $376.20.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 0.6 %

CI stock traded up $1.85 on Monday, reaching $332.42. 141,523 shares of the company traded hands, compared to its average volume of 1,610,752. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $94.43 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The firm has a fifty day simple moving average of $341.23 and a 200-day simple moving average of $333.41.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same quarter last year, the company earned $5.41 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.68%. The Cigna Group’s dividend payout ratio is 45.98%.

The Cigna Group Company 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.