Gradient Investments LLC Acquires 3,910 Shares of The Cigna Group (NYSE:CI)

Gradient Investments LLC increased its holdings in The Cigna Group (NYSE:CI) by 10.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,282 shares of the health services provider’s stock after buying an additional 3,910 shares during the period. Gradient Investments LLC’s holdings in The Cigna Group were worth $11,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at $37,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth $34,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the 3rd quarter worth $45,000. Finally, Intact Investment Management Inc. acquired a new position in The Cigna Group during the 3rd quarter valued at about $69,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.3 %

The Cigna Group stock opened at $294.18 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization 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 business has a 50 day simple moving average of $297.18 and a 200-day simple moving average of $325.61. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released 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 Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target 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. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. 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 note on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued 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, Truist Financial dropped their price target on 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. One research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $395.93.

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.