Adero Partners LLC Sells 93 Shares of The Cigna Group (NYSE:CI)

Adero Partners LLC decreased its holdings in shares of The Cigna Group (NYSE:CI) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 746 shares of the health services provider’s stock after selling 93 shares during the quarter. Adero Partners LLC’s holdings in The Cigna Group were worth $245,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CI. Mission Wealth Management LP increased its stake in shares of The Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock worth $691,000 after acquiring an additional 32 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of The Cigna Group by 0.7% during the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock valued at $1,509,000 after acquiring an additional 34 shares during the last quarter. Kesler Norman & Wride LLC grew its holdings in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after purchasing an additional 35 shares during the period. Wynn Capital LLC increased its position in The Cigna Group by 1.0% during the first quarter. Wynn Capital LLC now owns 3,451 shares of the health services provider’s stock worth $1,135,000 after purchasing an additional 35 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. raised its stake in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 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 analysts have recently issued reports on CI shares. Cantor Fitzgerald raised their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Morgan Stanley raised their target price on The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $371.00 price target on shares of The Cigna Group in a research note on Tuesday, June 3rd. Robert W. Baird cut their price objective on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $380.39.

The Cigna Group Price Performance

CI stock opened at $314.30 on Tuesday. 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 twelve month low of $262.03 and a twelve month high of $370.83. The business has a 50 day simple moving average of $322.34 and a 200-day simple moving average of $308.02. The company has a market capitalization of $83.96 billion, a P/E ratio of 25.68, a PEG ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same quarter in the prior year, the business posted $6.47 earnings per share. The Cigna Group’s revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.92%. The Cigna Group’s dividend payout ratio is currently 33.44%.

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.