Kestra Investment Management LLC Boosts Stake in The Cigna Group (NYSE:CI)

Kestra Investment Management LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 51.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,016 shares of the health services provider’s stock after acquiring an additional 687 shares during the quarter. Kestra Investment Management LLC’s holdings in The Cigna Group were worth $698,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CI. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC grew its holdings in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter worth $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of The Cigna Group during the 2nd quarter valued at about $66,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CI shares. Jefferies Financial Group raised their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Price Performance

The Cigna Group stock opened at $337.80 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a market cap of $93.96 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51. The company’s 50 day moving average is $333.16 and its two-hundred day moving average is $338.34.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the firm earned $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio 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.