The Cigna Group (NYSE:CI) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC boosted its holdings in The Cigna Group (NYSE:CI) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,736 shares of the health services provider’s stock after acquiring an additional 318 shares during the period. Brighton Jones LLC’s holdings in The Cigna Group were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of 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 valued at $138,590,000 after buying an additional 399,230 shares during the last quarter. FMR LLC grew its holdings in shares of The Cigna Group by 2.0% during the third 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 last quarter. Raymond James & Associates raised its position in shares of The Cigna Group by 42.8% during the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after purchasing an additional 257,711 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after purchasing an additional 202,161 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in The Cigna Group during the 3rd quarter valued at approximately $69,972,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CI shares. Royal Bank of Canada dropped their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Truist Financial decreased their target price on shares of 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. Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $395.93.

The Cigna Group Price Performance

NYSE:CI opened at $294.18 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $297.18 and its 200 day moving average price is $325.61. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market cap of $81.82 billion, a P/E ratio of 27.75, a PEG ratio of 0.78 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict 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.