B. Riley Wealth Advisors Inc. Decreases Stock Holdings in The Cigna Group (NYSE:CI)

B. Riley Wealth Advisors Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 6.7% in the third quarter, HoldingsChannel reports. The firm owned 5,640 shares of the health services provider’s stock after selling 405 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in The Cigna Group were worth $1,938,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC raised its stake in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after buying an additional 130,048 shares during the last quarter. Geode Capital Management LLC raised its stake in The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after buying an additional 22,408 shares during the last quarter. Parnassus Investments LLC raised its stake in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after buying an additional 59,011 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after buying an additional 150,765 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CI shares. Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada cut their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Barclays increased their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group raised their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Performance

Shares of CI stock opened at $281.86 on Monday. The company has a market capitalization of $78.40 billion, a P/E ratio of 26.59, a P/E/G ratio of 0.88 and a beta of 0.50. The business’s 50 day moving average is $326.45 and its two-hundred day moving average is $336.78. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12-month low of $279.88 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 earnings per share. Analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.