Fifth Third Bancorp Acquires 261 Shares of The Cigna Group (NYSE:CI)

Fifth Third Bancorp lifted its stake in The Cigna Group (NYSE:CI) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,440 shares of the health services provider’s stock after purchasing an additional 261 shares during the quarter. Fifth Third Bancorp’s holdings in The Cigna Group were worth $7,025,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after purchasing an additional 399,230 shares in the last quarter. FMR LLC increased its position in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Raymond James & Associates raised its holdings in The Cigna Group by 42.8% in the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after acquiring an additional 257,711 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after acquiring an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in The Cigna Group during the 3rd quarter valued at $69,972,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $294.18 on Monday. 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 stock has a market cap of $81.82 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 0.78 and a beta of 0.54. The business has a 50-day simple moving average of $297.18 and a two-hundred day simple moving average of $325.59.

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 company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 EPS. On average, analysts expect that The Cigna Group will post 28.5 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, November 4th. Truist Financial decreased their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on shares of 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 investment 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 company. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target 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.