Wesbanco Bank Inc. Sells 69 Shares of The Cigna Group (NYSE:CI)

Wesbanco Bank Inc. lessened its holdings in shares of The Cigna Group (NYSE:CI) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,557 shares of the health services provider’s stock after selling 69 shares during the period. Wesbanco Bank Inc.’s holdings in The Cigna Group were worth $1,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in The Cigna Group by 145.3% in the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after purchasing an additional 404,791 shares during the period. International Assets Investment Management LLC raised its holdings 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 worth $138,590,000 after purchasing an additional 399,230 shares during the last quarter. Finally, FMR LLC lifted its position in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Up 2.1 %

CI opened at $294.98 on Friday. The stock has a market capitalization of $82.05 billion, a P/E ratio of 27.83, a P/E/G ratio of 0.78 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 Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm’s fifty day simple moving average is $298.30 and its 200 day simple moving average is $326.03.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price 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. Barclays lifted their price objective 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. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $395.93.

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.