Swedbank AB Increases Position in The Cigna Group (NYSE:CI)

Swedbank AB increased its position in shares of The Cigna Group (NYSE:CI) by 55.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 884,406 shares of the health services provider’s stock after buying an additional 314,123 shares during the quarter. Swedbank AB owned about 0.32% of The Cigna Group worth $244,220,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Strategic Blueprint LLC raised its stake in shares of The Cigna Group by 9.8% in the 4th quarter. Strategic Blueprint LLC now owns 805 shares of the health services provider’s stock valued at $222,000 after acquiring an additional 72 shares during the period. Forsta AP Fonden raised its holdings in The Cigna Group by 8.8% in the fourth quarter. Forsta AP Fonden now owns 97,500 shares of the health services provider’s stock valued at $26,924,000 after acquiring an additional 7,900 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its stake in shares of The Cigna Group by 20.5% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 55,109 shares of the health services provider’s stock worth $15,650,000 after purchasing an additional 9,364 shares in the last quarter. Asset Dedication LLC raised its stake in The Cigna Group by 23.1% in the fourth quarter. Asset Dedication LLC now owns 1,419 shares of the health services provider’s stock valued at $392,000 after buying an additional 266 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of The Cigna Group during the 4th quarter worth about $69,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. 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 for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Up 0.1 %

CI stock traded up $0.17 during midday trading on Wednesday, hitting $302.99. 116,784 shares of the company’s stock were exchanged, compared to its average volume of 1,483,320. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $84.28 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The firm has a 50 day moving average price of $296.45 and a 200-day moving average price of $325.14.

The Cigna Group (NYSE:CI) last issued its earnings results 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 business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’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. On average, analysts anticipate that The Cigna Group will post 28.5 EPS for the current 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.