Strategic Investment Advisors MI Cuts Holdings in The Cigna Group (NYSE:CI)

Strategic Investment Advisors MI reduced its position in The Cigna Group (NYSE:CI) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,737 shares of the health services provider’s stock after selling 489 shares during the quarter. Strategic Investment Advisors MI’s holdings in The Cigna Group were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. FMR LLC raised its position in shares of The Cigna Group by 2.0% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA raised its position in shares of The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after buying an additional 130,048 shares during the period. Geode Capital Management LLC raised its position in shares of The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after buying an additional 22,408 shares during the period. Parnassus Investments LLC raised its position in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The Cigna Group by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after purchasing an additional 44,810 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.3 %

NYSE:CI opened at $294.18 on Monday. The company has a market capitalization of $81.82 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock has a 50-day simple moving average of $297.18 and a 200 day simple moving average of $325.59. 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 Cigna Group (NYSE:CI) last posted its quarterly 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the firm earned $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

Analysts Set New Price Targets

CI has been the topic of several research reports. Truist Financial cut their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price 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. Finally, Barclays raised their target price 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. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $395.93.

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.