Nisa Investment Advisors LLC Raises Position in The Cigna Group (NYSE:CI)

Nisa Investment Advisors LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 118,997 shares of the health services provider’s stock after acquiring an additional 415 shares during the period. Nisa Investment Advisors LLC’s holdings in The Cigna Group were worth $32,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after purchasing an additional 31 shares in the last quarter. AE Wealth Management LLC lifted its holdings in The Cigna Group by 7.1% in the 2nd quarter. AE Wealth Management LLC now owns 3,812 shares of the health services provider’s stock worth $1,260,000 after buying an additional 252 shares in the last quarter. ProShare Advisors LLC boosted its position in The Cigna Group by 3.8% in the 2nd quarter. ProShare Advisors LLC now owns 46,865 shares of the health services provider’s stock valued at $15,492,000 after buying an additional 1,704 shares during the last quarter. Mount Yale Investment Advisors LLC grew its stake in shares of The Cigna Group by 5.2% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,691 shares of the health services provider’s stock valued at $559,000 after acquiring an additional 83 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of The Cigna Group by 6.2% during the second quarter. 1832 Asset Management L.P. now owns 4,299 shares of the health services provider’s stock valued at $1,421,000 after acquiring an additional 252 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Royal Bank of Canada reduced their target price on 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. Truist Financial dropped 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 note on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Stock Performance

Shares of CI stock opened at $288.48 on Wednesday. The company has a market cap of $80.24 billion, a P/E ratio of 27.21, a PEG ratio of 0.77 and a beta of 0.54. The business 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 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $59.58 billion. During the same quarter in the previous year, the firm posted $6.77 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

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.