Avidian Wealth Enterprises LLC Buys 723 Shares of The Cigna Group (NYSE:CI)

Avidian Wealth Enterprises LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,637 shares of the health services provider’s stock after purchasing an additional 723 shares during the period. Avidian Wealth Enterprises LLC’s holdings in The Cigna Group were worth $1,004,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CI. Collier Financial purchased a new position in The Cigna Group during the 4th quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $34,000. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter valued at about $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the 3rd quarter valued at about $45,000. Finally, Heck Capital Advisors LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $53,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.9 %

CI opened at $292.72 on Thursday. 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 firm has a 50 day moving average price of $288.17 and a 200-day moving average price of $321.82. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market capitalization of $81.42 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 0.94 and a beta of 0.54.

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

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.06%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is 45.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. 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. Morgan Stanley decreased 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 report on Friday, January 31st. Finally, Truist Financial decreased 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 report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

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.