Eads & Heald Wealth Management Cuts Stake in The Cigna Group (NYSE:CI)

Eads & Heald Wealth Management lowered its stake in shares of The Cigna Group (NYSE:CI) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,472 shares of the health services provider’s stock after selling 55 shares during the quarter. Eads & Heald Wealth Management’s holdings in The Cigna Group were worth $683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of The Cigna Group by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 118,997 shares of the health services provider’s stock worth $32,860,000 after purchasing an additional 415 shares during the period. Genesis Private Wealth LLC acquired a new position in The Cigna Group in the fourth quarter valued at approximately $364,000. Red Spruce Capital LLC boosted its holdings in The Cigna Group by 8.2% during the fourth quarter. Red Spruce Capital LLC now owns 9,016 shares of the health services provider’s stock worth $2,490,000 after buying an additional 683 shares in the last quarter. Pure Financial Advisors LLC grew its position in shares of The Cigna Group by 16.4% during the 4th quarter. Pure Financial Advisors LLC now owns 1,045 shares of the health services provider’s stock valued at $289,000 after acquiring an additional 147 shares during the period. Finally, Harbor Investment Advisory LLC grew its holdings in The Cigna Group by 4.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,797 shares of the health services provider’s stock valued at $496,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.6 %

NYSE CI opened at $288.48 on Wednesday. The stock has a market capitalization of $80.24 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 0.77 and a beta of 0.54. The firm has a 50 day moving average of $300.19 and a two-hundred day moving average of $326.51. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business 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 business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.77 EPS. As a group, research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CI has been the subject of several research analyst reports. Truist Financial reduced their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, January 6th. 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. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note 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. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $395.93.

The Cigna Group 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.