Wesbanco Bank Inc. Has $1.54 Million Stock Position in The Cigna Group (NYSE:CI)

Wesbanco Bank Inc. cut its stake in shares of The Cigna Group (NYSE:CI) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,557 shares of the health services provider’s stock after selling 69 shares during the quarter. Wesbanco Bank Inc.’s holdings in The Cigna Group were worth $1,535,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Ulland Investment Advisors LLC lifted its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the 3rd quarter valued at about $37,000. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group in the 3rd quarter valued at about $45,000. Finally, Intact Investment Management Inc. acquired a new stake in The Cigna Group in the 3rd quarter valued at about $69,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

CI opened at $294.98 on Friday. The firm has a market cap of $82.05 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The business’s fifty day moving average is $298.30 and its 200-day moving average is $326.03. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating 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 firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the firm earned $6.77 EPS. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CI. Truist Financial dropped their price objective on 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. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Barclays upped their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. One 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 stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus 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.