CX Institutional Lowers Stock Holdings in The Cigna Group (NYSE:CI)

CX Institutional lowered its stake in The Cigna Group (NYSE:CI) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,689 shares of the health services provider’s stock after selling 626 shares during the period. CX Institutional’s holdings in The Cigna Group were worth $9,027,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CI. 1832 Asset Management L.P. raised its stake in shares of The Cigna Group by 6.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 4,299 shares of the health services provider’s stock worth $1,421,000 after buying an additional 252 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in The Cigna Group by 68.4% during the second quarter. Public Sector Pension Investment Board now owns 11,003 shares of the health services provider’s stock worth $3,637,000 after acquiring an additional 4,471 shares during the period. Insigneo Advisory Services LLC raised its position in The Cigna Group by 11.9% in the second quarter. Insigneo Advisory Services LLC now owns 1,961 shares of the health services provider’s stock worth $639,000 after acquiring an additional 209 shares in the last quarter. Caxton Associates LP acquired a new stake in The Cigna Group in the second quarter valued at $1,122,000. Finally, AlTi Global Inc. boosted its position in shares of The Cigna Group by 26.3% during the 2nd quarter. AlTi Global Inc. now owns 1,153 shares of the health services provider’s stock worth $381,000 after purchasing an additional 240 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

NYSE:CI opened at $294.65 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $81.96 billion, a PE ratio of 27.80, a P/E/G ratio of 0.78 and a beta of 0.54. The firm has a 50 day simple moving average of $298.30 and a 200-day simple moving average of $326.03. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share 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 during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the firm posted $6.77 EPS. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. On average, equities analysts expect that The Cigna Group will post 28.5 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CI. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Truist Financial dropped their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $395.93.

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.