Forsta AP Fonden Purchases 7,900 Shares of The Cigna Group (NYSE:CI)

Forsta AP Fonden raised its position in shares of The Cigna Group (NYSE:CI) by 8.8% in the fourth quarter, Holdings Channel reports. The firm owned 97,500 shares of the health services provider’s stock after acquiring an additional 7,900 shares during the quarter. Forsta AP Fonden’s holdings in The Cigna Group were worth $26,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. Ulland Investment Advisors LLC raised its holdings in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in The Cigna Group during the 3rd quarter valued at $37,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at $34,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group in the 3rd quarter worth $45,000. Finally, Intact Investment Management Inc. bought a new stake in shares of The Cigna Group in the third quarter worth $69,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CI. Deutsche Bank Aktiengesellschaft lowered their target price on 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 restated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Stephens reiterated 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, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. One investment 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Stock Down 1.0 %

Shares of CI opened at $302.74 on Wednesday. The business’s 50 day moving average is $296.45 and its 200 day moving average is $325.14. 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 Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market capitalization of $84.21 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter last year, the business posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Research analysts expect that The Cigna Group will post 28.5 earnings per share 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.