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

Kestra Investment Management LLC lifted its stake in The Cigna Group (NYSE:CI - Free Report) by 63.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,297 shares of the health services provider's stock after purchasing an additional 1,281 shares during the quarter. Kestra Investment Management LLC's holdings in The Cigna Group were worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CI. Adero Partners LLC increased its holdings in shares of The Cigna Group by 4.5% in the third quarter. Adero Partners LLC now owns 788 shares of the health services provider's stock worth $273,000 after purchasing an additional 34 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in The Cigna Group by 1.0% during the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider's stock valued at $1,265,000 after buying an additional 35 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider's stock valued at $422,000 after buying an additional 35 shares in the last quarter. Smithfield Trust Co grew its holdings in The Cigna Group by 3.6% during the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider's stock valued at $373,000 after buying an additional 38 shares in the last quarter. Finally, Griffin Asset Management Inc. grew its holdings in The Cigna Group by 0.6% during the 4th quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider's stock valued at $1,869,000 after buying an additional 39 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CI has been the subject of several research analyst reports. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a report on Friday, November 1st. StockNews.com raised shares of The Cigna Group from a "hold" rating to a "buy" rating in a research note on Wednesday. Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $373.69.

The Cigna Group Trading Up 0.1 %

Shares of CI traded up $0.24 during trading hours on Friday, reaching $299.92. 2,213,736 shares of the company traded hands, compared to its average volume of 1,806,507. The firm has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 stock's fifty day moving average price is $285.99 and its 200 day moving average price is $319.78.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business earned $6.79 EPS. Sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The Cigna Group's dividend payout ratio (DPR) is 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.