Montecito Bank & Trust Grows Stake in The Cigna Group (NYSE:CI)

Montecito Bank & Trust raised its stake in shares of The Cigna Group (NYSE:CI) by 20.2% during the fourth quarter, HoldingsChannel reports. The firm owned 2,390 shares of the health services provider’s stock after buying an additional 401 shares during the quarter. Montecito Bank & Trust’s holdings in The Cigna Group were worth $660,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sterling Financial Group Inc. bought a new position in The Cigna Group during the 4th quarter valued at about $4,367,000. Marks Group Wealth Management Inc grew its stake in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares during the period. Trinity Street Asset Management LLP lifted its stake in shares of The Cigna Group by 7.1% during the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after acquiring an additional 5,397 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after acquiring an additional 3,466 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CI. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Truist Financial reduced their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. 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 stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Trading Down 0.3 %

CI opened at $294.18 on Friday. The firm 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 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 fifty day moving average price of $297.72 and a 200-day moving average price of $325.82. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the previous year, the firm earned $6.77 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group 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.