Kestra Private Wealth Services LLC Acquires 1,955 Shares of The Cigna Group (NYSE:CI)

Kestra Private Wealth Services LLC boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 81.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,346 shares of the health services provider's stock after purchasing an additional 1,955 shares during the quarter. Kestra Private Wealth Services LLC's holdings in The Cigna Group were worth $1,200,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of The Cigna Group by 49,287.7% during the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider's stock valued at $138,590,000 after acquiring an additional 399,230 shares in the last quarter. Swedbank AB grew its holdings in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock worth $244,220,000 after buying an additional 314,123 shares in the last quarter. FMR LLC grew its holdings in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Raymond James & Associates grew its holdings in The Cigna Group by 42.8% during the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider's stock worth $297,956,000 after buying an additional 257,711 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider's stock worth $137,483,000 after buying an additional 202,161 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Royal Bank of Canada decreased 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. Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a report on Monday, November 4th. Truist Financial cut their price objective on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald cut their price objective on The Cigna Group from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has a consensus rating of "Moderate Buy" and a consensus price target of $373.69.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $7.70 during trading on Friday, reaching $292.12. 1,579,577 shares of the stock traded hands, compared to its average volume of 1,953,796. The Cigna Group has a 52-week low of $262.03 and a 52-week 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 company has a 50-day moving average of $286.46 and a 200-day moving average of $320.86. The stock has a market capitalization of $81.25 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 period in the previous year, the firm posted $6.79 EPS. Analysts forecast that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.07%. The Cigna Group's dividend payout ratio is 45.75%.

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.