Kathmere Capital Management LLC Sells 90 Shares of The Cigna Group (NYSE:CI)

Kathmere Capital Management LLC lessened its holdings in shares of The Cigna Group (NYSE:CI) by 7.4% in the first 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 SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in The Cigna Group by 106.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,892 shares of the health services provider’s stock valued at $3,402,000 after buying an additional 6,118 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of The Cigna Group in the 3rd quarter worth $835,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of The Cigna Group by 44.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 411,024 shares of the health services provider’s stock valued at $117,582,000 after purchasing an additional 126,550 shares during the last quarter. Waverly Advisors LLC lifted its position in shares of The Cigna Group by 2.3% during the third quarter. Waverly Advisors LLC now owns 1,976 shares of the health services provider’s stock valued at $565,000 after purchasing an additional 44 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in The Cigna Group by 4.1% during the third quarter. Lazard Asset Management LLC now owns 100,726 shares of the health services provider’s stock worth $28,814,000 after purchasing an additional 3,968 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Piper Sandler assumed coverage on The Cigna Group in a research report on Wednesday. They set an “overweight” rating and a $400.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, June 12th. Finally, Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Down 1.1 %

Shares of NYSE CI opened at $330.57 on Friday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The company has a market cap of $93.91 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.02 and a beta of 0.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $341.23 and a two-hundred day simple moving average of $333.15.

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

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors 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 of this dividend was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insiders Place Their Bets

In related news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were 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 in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. 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. Corporate insiders own 0.60% of the company’s stock.

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.