Cornerstone Wealth Management LLC Buys 57 Shares of The Cigna Group (NYSE:CI)

Cornerstone Wealth Management LLC increased its position in shares of The Cigna Group (NYSE:CI) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,636 shares of the health services provider’s stock after purchasing an additional 57 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in The Cigna Group were worth $452,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of The Cigna Group by 49,287.7% in 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 purchasing an additional 399,230 shares in the last quarter. FMR LLC boosted its position in The Cigna Group by 2.0% in 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 buying an additional 279,880 shares in the last quarter. Raymond James & Associates grew its stake in shares of The Cigna Group by 42.8% during the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after buying an additional 257,711 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after buying an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of The Cigna Group in the 3rd quarter valued at $69,972,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.3 %

Shares of NYSE:CI opened at $294.18 on Friday. The business’s 50-day moving average is $297.18 and its 200-day moving average is $325.61. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a market capitalization of $81.82 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 0.78 and a beta of 0.54. 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 Cigna Group (NYSE:CI) last posted its quarterly earnings results 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 firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.77 EPS. Equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

CI has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Truist Financial dropped their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reduced their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently 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.