Atria Wealth Solutions Inc. Buys 1,000 Shares of The Cigna Group (NYSE:CI)

Atria Wealth Solutions Inc. raised its stake in The Cigna Group (NYSE:CI) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,224 shares of the health services provider’s stock after buying an additional 1,000 shares during the period. Atria Wealth Solutions Inc.’s holdings in The Cigna Group were worth $1,995,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Adero Partners LLC raised its position in The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after purchasing an additional 34 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of The Cigna Group by 3.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after acquiring an additional 35 shares in the last quarter. Smithfield Trust Co raised its position in shares of The Cigna Group by 3.6% in the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after acquiring an additional 38 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of The Cigna Group by 0.6% in the 4th quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider’s stock worth $1,869,000 after acquiring an additional 39 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in shares of The Cigna Group by 5.6% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 751 shares of the health services provider’s stock worth $260,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald decreased their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Stock Performance

Shares of CI opened at $299.92 on Friday. The business’s fifty day simple moving average is $286.35 and its two-hundred day simple moving average is $319.54. 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 12 month low of $262.03 and a 12 month high of $370.83. The company has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 period in the previous year, the company earned $6.79 EPS. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 45.75%.

About The Cigna Group

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.