Soltis Investment Advisors LLC Sells 333 Shares of The Cigna Group (NYSE:CI)

Soltis Investment Advisors LLC cut its position in shares of The Cigna Group (NYSE:CI) by 12.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,355 shares of the health services provider’s stock after selling 333 shares during the quarter. Soltis Investment Advisors LLC’s holdings in The Cigna Group were worth $816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC raised its holdings in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at about $45,000. Finally, Private Ocean LLC increased its position in The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CI. Jefferies Financial Group boosted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Piper Sandler restated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Performance

Shares of CI stock opened at $293.94 on Thursday. The firm’s 50 day moving average is $329.73 and its 200 day moving average is $337.77. 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 $288.88 and a 12 month high of $370.83. The stock has a market capitalization of $81.76 billion, a P/E ratio of 27.73, a PEG ratio of 0.96 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the company earned $6.77 EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cigna Group will post 28.49 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.91%. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.