Avidian Wealth Solutions LLC Has $719,000 Holdings in The Cigna Group (NYSE:CI)

Avidian Wealth Solutions LLC raised its position in shares of The Cigna Group (NYSE:CI) by 3.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,401 shares of the health services provider’s stock after acquiring an additional 73 shares during the period. Avidian Wealth Solutions LLC’s holdings in The Cigna Group were worth $719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bogart Wealth LLC increased its stake in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new stake in The Cigna Group in the third quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $29,000. VisionPoint Advisory Group LLC grew its stake in The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Pacifica Partners Inc. increased its position in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 in the last 90 days. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer upped their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, Mizuho lifted their price objective on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Stock Up 0.2 %

Shares of The Cigna Group stock traded up $0.79 on Monday, reaching $342.29. The stock had a trading volume of 495,997 shares, compared to its average volume of 1,580,438. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $97.23 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.04 and a beta of 0.57. The company has a 50 day moving average price of $350.77 and a 200 day moving average price of $319.71. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.41 EPS. As a group, equities research analysts forecast that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The Cigna Group’s dividend payout ratio is currently 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.