Kingsview Wealth Management LLC Boosts Stock Holdings in Cigna Group (NYSE:CI)

Kingsview Wealth Management LLC increased its stake in shares of Cigna Group (NYSE:CI - Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,493 shares of the health services provider's stock after purchasing an additional 1,437 shares during the quarter. Kingsview Wealth Management LLC's holdings in Cigna Group were worth $12,006,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bailard Inc. raised its holdings in Cigna Group by 8.5% in the 1st quarter. Bailard Inc. now owns 5,386 shares of the health services provider's stock valued at $1,772,000 after buying an additional 423 shares during the last quarter. Graypoint LLC raised its holdings in Cigna Group by 10.9% in the 1st quarter. Graypoint LLC now owns 2,727 shares of the health services provider's stock valued at $897,000 after buying an additional 268 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Cigna Group by 2.9% in the 1st quarter. Verdence Capital Advisors LLC now owns 2,307 shares of the health services provider's stock valued at $759,000 after buying an additional 64 shares during the last quarter. Hudock Inc. bought a new position in Cigna Group in the 1st quarter valued at approximately $227,000. Finally, Trust Investment Advisors raised its holdings in Cigna Group by 1.6% in the 1st quarter. Trust Investment Advisors now owns 3,441 shares of the health services provider's stock valued at $1,132,000 after buying an additional 55 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Trading Down 1.0%

Shares of NYSE:CI traded down $3.01 during mid-day trading on Friday, hitting $295.27. The company had a trading volume of 2,071,564 shares, compared to its average volume of 1,741,135. The firm has a fifty day moving average price of $314.51 and a 200 day moving average price of $311.06. Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $78.88 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the firm posted $6.47 EPS. Cigna Group's revenue was up 14.4% compared to the same quarter last year. As a group, research analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's payout ratio is currently 33.44%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CI shares. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Piper Sandler raised their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Finally, Truist Financial raised their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $380.39.

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.