Foundations Investment Advisors LLC Reduces Holdings in The Cigna Group (NYSE:CI)

Foundations Investment Advisors LLC reduced its position in The Cigna Group (NYSE:CI) by 27.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,246 shares of the health services provider’s stock after selling 870 shares during the period. Foundations Investment Advisors LLC’s holdings in The Cigna Group were worth $620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sterling Financial Group Inc. acquired a new position in The Cigna Group during the 4th quarter worth $4,367,000. Marks Group Wealth Management Inc grew its stake in The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Principal Financial Group Inc. grew its stake in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP increased its holdings in The Cigna Group by 7.1% in the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after buying an additional 5,397 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after buying an additional 3,466 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CI shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a 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 research report on Friday, November 1st. Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Truist Financial reduced their price objective on 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 research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Stock Performance

CI stock opened at $282.42 on Friday. The company has a 50-day simple moving average of $296.05 and a 200 day simple moving average of $324.99. The company has a market capitalization of $78.56 billion, a P/E ratio of 26.64, a PEG ratio of 0.78 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. During the same quarter in the prior year, the company earned $6.79 EPS. Sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

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.