The Cigna Group (NYSE:CI) Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 67.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,656 shares of the health services provider’s stock after selling 5,560 shares during the period. Perpetual Ltd’s holdings in The Cigna Group were worth $733,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its holdings in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after buying an additional 31 shares in the last quarter. IFG Advisors LLC raised its holdings in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. boosted its position in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after purchasing an additional 31 shares in the last quarter. SPC Financial Inc. grew its holdings in The Cigna Group by 0.7% in the second quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock valued at $1,692,000 after purchasing an additional 34 shares during the last quarter. Finally, Castle Rock Wealth Management LLC increased its position in shares of The Cigna Group by 0.5% in the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock valued at $2,263,000 after buying an additional 34 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CI has been the subject of a number of research reports. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Truist Financial cut their price objective on 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. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $395.93.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $289.04 on Thursday. The stock has a market capitalization of $80.40 billion, a P/E ratio of 27.27, a PEG ratio of 0.77 and a beta of 0.54. 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 business’s fifty day moving average price is $299.16 and its 200 day moving average price is $326.29. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

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 for the quarter, beating the consensus estimate 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 return on equity of 18.42% and a net margin of 1.31%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. As a group, research analysts anticipate that The Cigna Group will post 28.5 earnings per share 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.