Kingswood Wealth Advisors LLC Lowers Stake in The Cigna Group (NYSE:CI)

Kingswood Wealth Advisors LLC lowered its holdings in shares of The Cigna Group (NYSE:CI) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,443 shares of the health services provider’s stock after selling 658 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in The Cigna Group were worth $1,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its stake in shares of The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 1.2% in the third 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 last quarter. Geode Capital Management LLC increased its stake in The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after buying an additional 22,408 shares during the period. Parnassus Investments LLC lifted its holdings in The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after buying an additional 59,011 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The Cigna Group by 2.1% in the 3rd 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 acquiring an additional 44,810 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI opened at $305.91 on Tuesday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market capitalization of $85.09 billion, a PE ratio of 28.86, a PEG ratio of 0.78 and a beta of 0.54. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $297.18 and its 200 day moving average price is $325.56.

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, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.77 earnings per share. As a group, sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Truist Financial dropped their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada lowered their price target 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. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price 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.