Kingsview Wealth Management LLC Purchases 886 Shares of The Cigna Group (NYSE:CI)

Kingsview Wealth Management LLC boosted its position in shares of The Cigna Group (NYSE:CI) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,572 shares of the health services provider’s stock after buying an additional 886 shares during the period. Kingsview Wealth Management LLC’s holdings in The Cigna Group were worth $10,938,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC lifted its position in The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after acquiring an additional 600,215 shares during the period. Swedbank AB purchased a new stake in The Cigna Group during the 1st quarter worth approximately $161,300,000. Ameriprise Financial Inc. increased its stake in The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after buying an additional 405,694 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of The Cigna Group by 145.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after purchasing an additional 404,791 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after purchasing an additional 399,230 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CI. JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $394.64.

The Cigna Group Trading Down 0.5 %

The Cigna Group stock opened at $328.43 on Friday. The firm has a 50-day moving average price of $335.43 and a two-hundred day moving average price of $338.87. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $91.35 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 0.99 and a beta of 0.51. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted $6.77 earnings per share. Sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.71%. The Cigna Group’s payout ratio is 52.83%.

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.