Kathmere Capital Management LLC Has $407,000 Stock Position in The Cigna Group (NYSE:CI)

Kathmere Capital Management LLC lessened its stake in The Cigna Group (NYSE:CI) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,121 shares of the health services provider’s stock after selling 90 shares during the quarter. Kathmere Capital Management LLC’s holdings in The Cigna Group were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in The Cigna Group in the fourth quarter valued at about $1,006,348,000. Cerity Partners LLC grew its position 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 buying an additional 538,274 shares during the period. Jennison Associates LLC raised its stake in shares of The Cigna Group by 127.3% during the fourth quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after buying an additional 317,081 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in The Cigna Group by 21,324.4% in the fourth quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock valued at $85,583,000 after buying an additional 284,467 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in The Cigna Group by 153.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 386,226 shares of the health services provider’s stock valued at $115,655,000 after acquiring an additional 233,945 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CI. Robert W. Baird initiated coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, June 12th. Barclays assumed coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Finally, Oppenheimer upped their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $376.20.

The Cigna Group Trading Down 1.1 %

The Cigna Group stock opened at $330.57 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50-day moving average of $341.23 and a 200-day moving average of $333.15. The company has a market cap of $93.91 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 1.02 and a beta of 0.53. The Cigna Group has a one year low of $253.95 and a one year high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period last year, the company earned $5.41 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity

In related news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Elder Granger sold 1,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock valued at $7,975,726 in the last quarter. Company insiders own 0.60% of the company’s stock.

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.