Atria Wealth Solutions Inc. Sells 438 Shares of The Cigna Group (NYSE:CI)

Atria Wealth Solutions Inc. trimmed its stake in The Cigna Group (NYSE:CIFree Report) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,135 shares of the health services provider’s stock after selling 438 shares during the period. Atria Wealth Solutions Inc.’s holdings in The Cigna Group were worth $3,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CI. Fort Sheridan Advisors LLC boosted its holdings in The Cigna Group by 25.4% in the 3rd quarter. Fort Sheridan Advisors LLC now owns 2,386 shares of the health services provider’s stock worth $683,000 after buying an additional 483 shares during the period. Spire Wealth Management boosted its holdings in The Cigna Group by 2.2% in the 3rd quarter. Spire Wealth Management now owns 2,810 shares of the health services provider’s stock worth $804,000 after buying an additional 61 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in The Cigna Group by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after buying an additional 345,605 shares during the period. First Command Advisory Services Inc. bought a new position in The Cigna Group in the 3rd quarter worth $197,000. Finally, Penobscot Investment Management Company Inc. bought a new position in The Cigna Group in the 3rd quarter worth $217,000. 85.32% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.5 %

Shares of NYSE CI opened at $332.29 on Friday. The firm’s 50-day moving average price is $299.74 and its 200-day moving average price is $293.47. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $97.23 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 1.01 and a beta of 0.51. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $333.86.

The Cigna Group (NYSE:CIGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same period in the prior year, the company posted $4.96 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be given a $1.40 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, March 5th. The Cigna Group’s dividend payout ratio is 28.29%.

Analyst Ratings Changes

Several research firms have commented on CI. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $335.00 to $341.00 in a report on Monday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Mizuho increased their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company increased their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $357.15.

Read Our Latest Stock Analysis on CI

The Cigna Group Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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