Griffin Asset Management Inc. Boosts Holdings in The Cigna Group (NYSE:CI)

Griffin Asset Management Inc. lifted its position in The Cigna Group (NYSE:CI) by 0.6% during the 4th quarter, HoldingsChannel reports. The firm owned 6,770 shares of the health services provider’s stock after acquiring an additional 39 shares during the quarter. Griffin Asset Management Inc.’s holdings in The Cigna Group were worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after buying an additional 399,230 shares in the last quarter. FMR LLC boosted its holdings in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Raymond James & Associates lifted its holdings in The Cigna Group by 42.8% during the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock valued at $297,956,000 after purchasing an additional 257,711 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after acquiring an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $69,972,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Truist Financial decreased their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada decreased their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Price Performance

NYSE:CI opened at $305.91 on Tuesday. The firm has a market cap of $85.09 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 0.78 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50-day simple moving average is $297.18 and its 200 day simple moving average is $325.56. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

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.