Montecito Bank & Trust Grows Stock Holdings in The Cigna Group (NYSE:CI)

Montecito Bank & Trust increased its stake in The Cigna Group (NYSE:CI) by 20.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,390 shares of the health services provider’s stock after purchasing an additional 401 shares during the quarter. Montecito Bank & Trust’s holdings in The Cigna Group were worth $660,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. IFG Advisors LLC increased its position in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after acquiring an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. grew its stake in shares of The Cigna Group by 4.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares during the period. SPC Financial Inc. increased its position in shares of The Cigna Group by 0.7% during the 2nd quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock valued at $1,692,000 after purchasing an additional 34 shares during the last quarter. Castle Rock Wealth Management LLC lifted its stake in shares of The Cigna Group by 0.5% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after purchasing an additional 34 shares during the period. Finally, Adero Partners LLC boosted its holdings in shares of The Cigna Group by 4.5% in the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after buying an additional 34 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CI. Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $294.18 on Friday. The company has a market cap of $81.82 billion, a P/E ratio of 27.75, a P/E/G ratio of 0.78 and a beta of 0.54. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 fifty day moving average is $297.72 and its two-hundred day moving average is $325.82.

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