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

Kingswood Wealth Advisors LLC increased its holdings in The Cigna Group (NYSE:CI) by 81.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,680 shares of the health services provider’s stock after purchasing an additional 1,651 shares during the period. Kingswood Wealth Advisors LLC’s holdings in The Cigna Group were worth $1,216,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of The Cigna Group during the 4th quarter worth approximately $1,006,348,000. Vanguard Group Inc. raised its holdings in shares of The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Focused Investors Fund L P purchased a new stake in shares of The Cigna Group during the 1st quarter worth approximately $205,529,000. Finally, Cerity Partners LLC raised its holdings in shares of The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after acquiring an additional 538,274 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.1 %

Shares of NYSE CI traded down $0.28 during mid-day trading on Wednesday, reaching $329.01. 1,928,136 shares of the company were exchanged, compared to its average volume of 1,586,823. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market cap of $93.46 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.02 and a beta of 0.52. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The firm has a 50-day moving average of $335.59 and a 200 day moving average of $339.48.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.13 EPS. On average, research analysts expect that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the transaction, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last three months. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CI. Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, July 10th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $381.00.

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.