Kingsview Wealth Management LLC Has $10.94 Million Holdings in The Cigna Group (NYSE:CI)

Kingsview Wealth Management LLC boosted its position in The Cigna Group (NYSE:CI) by 2.9% during the third quarter, according to its most recent 13F filing 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 quarter. Kingsview Wealth Management LLC’s holdings in The Cigna Group were worth $10,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC lifted its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new position in The Cigna Group during the 3rd quarter valued at about $37,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group during the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group in the second quarter worth about $66,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.5 %

The Cigna Group stock opened at $328.43 on Friday. The stock has a market capitalization of $91.35 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. 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 company has a 50 day moving average of $335.43 and a 200-day moving average of $338.87.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.77 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CI. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $394.64.

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.