Running Oak Capital LLC Buys 3,422 Shares of The Cigna Group (NYSE:CI)

Running Oak Capital LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,609 shares of the health services provider’s stock after purchasing an additional 3,422 shares during the period. Running Oak Capital LLC’s holdings in The Cigna Group were worth $10,662,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Public Sector Pension Investment Board raised its holdings in The Cigna Group by 68.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 11,003 shares of the health services provider’s stock worth $3,637,000 after purchasing an additional 4,471 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of The Cigna Group during the second quarter worth approximately $244,000. Daymark Wealth Partners LLC lifted its holdings in The Cigna Group by 4.3% in the second quarter. Daymark Wealth Partners LLC now owns 2,084 shares of the health services provider’s stock valued at $689,000 after buying an additional 85 shares during the period. MBB Public Markets I LLC boosted its stake in The Cigna Group by 1,736.4% in the second quarter. MBB Public Markets I LLC now owns 20,237 shares of the health services provider’s stock valued at $6,690,000 after acquiring an additional 19,135 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in The Cigna Group during the 2nd quarter worth $490,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Down 0.3 %

CI stock opened at $294.18 on Friday. The business has a 50-day moving average of $297.18 and a 200-day moving average of $325.61. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $81.82 billion, a P/E ratio of 27.75, a P/E/G ratio of 0.78 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue for the quarter 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. On average, sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. 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. Royal Bank of Canada reduced their price objective 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. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $395.93.

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.