Kestra Investment Management LLC Has $911,000 Position in The Cigna Group (NYSE:CI)

Kestra Investment Management LLC raised its stake in shares of The Cigna Group (NYSE:CI) by 63.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,297 shares of the health services provider’s stock after buying an additional 1,281 shares during the period. Kestra Investment Management LLC’s holdings in The Cigna Group were worth $911,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Atria Wealth Solutions Inc. boosted its stake in shares of The Cigna Group by 16.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,224 shares of the health services provider’s stock valued at $1,995,000 after buying an additional 1,000 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of The Cigna Group by 161.0% during the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the health services provider’s stock valued at $118,000 after buying an additional 264 shares during the period. Empower Advisory Group LLC boosted its stake in shares of The Cigna Group by 10.4% during the 4th quarter. Empower Advisory Group LLC now owns 10,383 shares of the health services provider’s stock valued at $2,867,000 after buying an additional 981 shares during the period. CIBC Asset Management Inc boosted its stake in shares of The Cigna Group by 3.4% during the 4th quarter. CIBC Asset Management Inc now owns 42,843 shares of the health services provider’s stock valued at $11,831,000 after buying an additional 1,411 shares during the period. Finally, Highview Capital Management LLC DE acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $287,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Stephens reduced their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $294.75 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm’s 50-day simple moving average is $285.58 and its 200-day simple moving average is $320.08. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market cap of $81.98 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 last year, the business earned $6.79 EPS. As a group, research analysts expect that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date 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 yield of 2.05%. The Cigna Group’s payout ratio is 45.75%.

The Cigna Group 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.