Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Holdings in The Cigna Group (NYSE:CI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of The Cigna Group (NYSE:CI) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,820 shares of the health services provider’s stock after purchasing an additional 1,050 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in The Cigna Group were worth $6,578,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new stake in shares of The Cigna Group in the second quarter worth $244,000. Maverick Capital Ltd. acquired a new position in The Cigna Group during the 2nd quarter worth $490,000. Susquehanna Fundamental Investments LLC acquired a new position in The Cigna Group during the 2nd quarter worth $4,297,000. Kathmere Capital Management LLC increased its position in shares of The Cigna Group by 8.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 1,211 shares of the health services provider’s stock worth $400,000 after purchasing an additional 90 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at about $523,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial lowered their price objective 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. Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Royal Bank of Canada dropped their price target 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. Barclays lifted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Performance

CI opened at $294.18 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $297.18 and its 200-day moving average is $325.59. The stock has a market cap of $81.82 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its 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 firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the previous year, the business earned $6.77 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, 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.