KCM Investment Advisors LLC Acquires 77 Shares of The Cigna Group (NYSE:CI)

KCM Investment Advisors LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 3.7% during the 3rd quarter, Holdings Channel reports. The firm owned 2,169 shares of the health services provider’s stock after buying an additional 77 shares during the period. KCM Investment Advisors LLC’s holdings in The Cigna Group were worth $751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Avantax Advisory Services Inc. raised its stake in The Cigna Group by 8.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,612 shares of the health services provider’s stock valued at $1,312,000 after purchasing an additional 284 shares during the period. Lord Abbett & CO. LLC increased its stake in The Cigna Group by 43.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 3,969 shares of the health services provider’s stock worth $1,441,000 after acquiring an additional 1,211 shares during the last quarter. Banco Santander S.A. increased its stake in The Cigna Group by 379.4% in the 1st quarter. Banco Santander S.A. now owns 7,153 shares of the health services provider’s stock worth $2,598,000 after acquiring an additional 5,661 shares during the last quarter. M&G Plc bought a new stake in The Cigna Group in the 1st quarter worth approximately $8,648,000. Finally, Mizuho Markets Americas LLC bought a new stake in The Cigna Group in the 1st quarter worth approximately $4,389,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.7 %

Shares of NYSE CI opened at $321.53 on Friday. The firm has a market cap of $89.43 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. 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 Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The business has a fifty day simple moving average of $338.88 and a two-hundred day simple moving average of $339.67.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the company posted $6.77 EPS. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CI. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $394.64.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently 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.