Foster Victor Wealth Advisors LLC Reduces Stake in The Cigna Group (NYSE:CI)

Foster Victor Wealth Advisors LLC lowered its position in The Cigna Group (NYSE:CI - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,276 shares of the health services provider's stock after selling 1,833 shares during the period. The Cigna Group accounts for about 1.4% of Foster Victor Wealth Advisors LLC's investment portfolio, making the stock its 16th largest holding. Foster Victor Wealth Advisors LLC's holdings in The Cigna Group were worth $17,591,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $36,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Transce3nd LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $38,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $44,000. Institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

Shares of CI stock traded up $1.66 during trading hours on Friday, hitting $317.03. The stock had a trading volume of 1,866,266 shares, compared to its average volume of 1,718,142. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock's 50-day moving average price is $322.31 and its two-hundred day moving average price is $308.38. The stock has a market capitalization of $84.69 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the firm posted $6.47 earnings per share. The business's revenue was up 14.4% compared to the same quarter last year. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

Several analysts have commented on CI shares. Guggenheim reiterated a "buy" rating and set a $388.00 target price on shares of The Cigna Group in a research note on Friday, May 23rd. Mizuho increased their target price on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $371.00 target price on shares of The Cigna Group in a research note on Tuesday, June 3rd. Cantor Fitzgerald increased their target price on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Piper Sandler increased their target price on The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $380.39.

The Cigna Group 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.