United Asset Strategies Inc. Decreases Holdings in The Cigna Group (NYSE:CI)

United Asset Strategies Inc. reduced its stake in The Cigna Group (NYSE:CI) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 44,924 shares of the health services provider’s stock after selling 3,221 shares during the quarter. The Cigna Group accounts for approximately 1.1% of United Asset Strategies Inc.’s portfolio, making the stock its 28th largest holding. United Asset Strategies Inc.’s holdings in The Cigna Group were worth $12,405,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake 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 acquiring an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after purchasing an additional 130,048 shares during the period. Geode Capital Management LLC lifted its stake in The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after purchasing an additional 22,408 shares during the last quarter. Parnassus Investments LLC grew its holdings in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in The Cigna Group by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after buying an additional 44,810 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barclays boosted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial cut 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. One equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Trading Down 0.3 %

Shares of CI stock opened at $294.18 on Monday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The business’s fifty day moving average is $297.18 and its 200 day moving average is $325.59. 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 company has a market capitalization of $81.82 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54.

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

About The Cigna Group

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.