Foundations Investment Advisors LLC Decreases Stake in The Cigna Group (NYSE:CI)

Foundations Investment Advisors LLC cut its holdings in shares of The Cigna Group (NYSE:CI) by 27.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,246 shares of the health services provider’s stock after selling 870 shares during the quarter. Foundations Investment Advisors LLC’s holdings in The Cigna Group were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Algert Global LLC purchased a new position in shares of The Cigna Group during the 2nd quarter worth $523,000. Northwestern Mutual Wealth Management Co. raised its stake in The Cigna Group by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 20,675 shares of the health services provider’s stock worth $6,836,000 after purchasing an additional 272 shares during the period. Cetera Investment Advisers grew its stake in shares of The Cigna Group by 1.4% in the 2nd quarter. Cetera Investment Advisers now owns 63,156 shares of the health services provider’s stock valued at $20,878,000 after buying an additional 895 shares during the period. Clearbridge Investments LLC increased its holdings in shares of The Cigna Group by 154.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock worth $1,165,000 after buying an additional 2,142 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at approximately $13,895,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler reaffirmed 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. Truist Financial reduced their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Trading Down 6.9 %

NYSE:CI opened at $282.42 on Friday. The stock has a market capitalization of $78.56 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 0.78 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a fifty day moving average price of $296.05 and a two-hundred day moving average price of $324.99. 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 released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same period in the previous year, the company earned $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

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.