Kingswood Wealth Advisors LLC Reduces Stock Holdings in The Cigna Group (NYSE:CI)

Kingswood Wealth Advisors LLC cut its holdings in The Cigna Group (NYSE:CI) by 50.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,029 shares of the health services provider’s stock after selling 2,054 shares during the period. Kingswood Wealth Advisors LLC’s holdings in The Cigna Group were worth $737,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. First Financial Corp IN increased its stake in shares of The Cigna Group by 17.2% during the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock valued at $82,000 after acquiring an additional 33 shares during the last quarter. Somerset Trust Co raised its position in shares of The Cigna Group by 1.6% in the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after buying an additional 34 shares during the period. Relyea Zuckerberg Hanson LLC boosted its holdings in The Cigna Group by 3.2% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after acquiring an additional 35 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in The Cigna Group by 1.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,132 shares of the health services provider’s stock worth $638,000 after acquiring an additional 36 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in shares of The Cigna Group by 3.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,250 shares of the health services provider’s stock worth $374,000 after purchasing an additional 37 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CI shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, June 12th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. JPMorgan Chase & Co. upped their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Barclays assumed coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Finally, Oppenheimer raised their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $376.20.

The Cigna Group Price Performance

Shares of NYSE:CI traded down $1.21 during trading hours on Wednesday, hitting $337.59. 1,491,454 shares of the company’s stock traded hands, compared to its average volume of 1,617,163. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The company has a market cap of $95.90 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.03 and a beta of 0.53. The company’s fifty day simple moving average is $342.12 and its two-hundred day simple moving average is $332.66. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its 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 return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the previous year, the firm earned $5.41 earnings per share. The Cigna Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is owned by corporate insiders.

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.