Asset Dedication LLC Acquires 266 Shares of The Cigna Group (NYSE:CI)

Asset Dedication LLC increased its holdings in The Cigna Group (NYSE:CI) by 23.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,419 shares of the health services provider’s stock after buying an additional 266 shares during the quarter. Asset Dedication LLC’s holdings in The Cigna Group were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the fourth quarter valued at about $34,000. Ulland Investment Advisors LLC raised its stake in shares of 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 acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the 3rd quarter worth approximately $45,000. Finally, Intact Investment Management Inc. acquired a new stake in The Cigna Group during the 3rd quarter valued at $69,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $303.49 on Thursday. 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 has a market capitalization of $84.42 billion, a P/E ratio of 28.63, a PEG ratio of 0.78 and a beta of 0.54. The business has a 50-day moving average of $296.45 and a 200-day moving average of $325.14. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.77 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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 note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Finally, 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 research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average 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.