Kingsview Wealth Management LLC Acquires 7,503 Shares of The Cigna Group (NYSE:CI)

Kingsview Wealth Management LLC boosted its holdings in shares of The Cigna Group (NYSE:CIFree Report) by 36.0% during the 4th quarter, Holdings Channel reports. The fund owned 28,368 shares of the health services provider’s stock after buying an additional 7,503 shares during the period. Kingsview Wealth Management LLC’s holdings in The Cigna Group were worth $8,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of The Cigna Group by 6.8% in the 3rd quarter. Allworth Financial LP now owns 4,321 shares of the health services provider’s stock valued at $1,236,000 after buying an additional 276 shares in the last quarter. McAdam LLC boosted its holdings in shares of The Cigna Group by 4.8% in the 3rd quarter. McAdam LLC now owns 1,218 shares of the health services provider’s stock valued at $348,000 after buying an additional 56 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of The Cigna Group by 27.0% in the 3rd quarter. Wealthfront Advisers LLC now owns 16,453 shares of the health services provider’s stock valued at $4,707,000 after buying an additional 3,502 shares in the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of The Cigna Group by 5.5% in the 3rd quarter. New Mexico Educational Retirement Board now owns 15,347 shares of the health services provider’s stock valued at $4,390,000 after buying an additional 800 shares in the last quarter. Finally, AIA Group Ltd bought a new stake in shares of The Cigna Group in the 3rd quarter valued at about $521,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders sold a total of 78,685 shares of company stock valued at $27,622,407 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Oppenheimer lifted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Barclays started coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $366.14.

Check Out Our Latest Stock Report on The Cigna Group

The Cigna Group Stock Performance

CI opened at $338.71 on Friday. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $96.22 billion, a PE ratio of 27.81, a P/E/G ratio of 1.03 and a beta of 0.57. The firm has a 50 day moving average of $352.19 and a two-hundred day moving average of $322.30.

The Cigna Group (NYSE:CIGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same period last year, the firm posted $5.41 EPS. The Cigna Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts anticipate that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

The Cigna Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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