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

Kestra Investment Management LLC raised its stake in The Cigna Group (NYSE:CI) by 51.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,016 shares of the health services provider’s stock after acquiring an additional 687 shares during the period. Kestra Investment Management LLC’s holdings in The Cigna Group were worth $698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new position in shares of The Cigna Group in the 3rd quarter valued at $195,000. Erste Asset Management GmbH acquired a new position in The Cigna Group in the third quarter valued at $17,630,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of The Cigna Group by 22.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 507,299 shares of the health services provider’s stock worth $175,749,000 after purchasing an additional 91,637 shares during the last quarter. Captrust Financial Advisors increased its position in shares of The Cigna Group by 21.9% during the third quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock worth $10,141,000 after purchasing an additional 5,262 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of The Cigna Group by 10.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 61,725 shares of the health services provider’s stock valued at $21,389,000 after purchasing an additional 5,642 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CI. Deutsche Bank Aktiengesellschaft dropped their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Trading Up 0.4 %

NYSE:CI opened at $337.80 on Monday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average price of $333.16 and a two-hundred day moving average price of $338.34. The stock has a market capitalization of $93.96 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.02 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. 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 firm posted $6.77 EPS. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued 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 of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 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.