Alpha Cubed Investments LLC Reduces Position in The Cigna Group (NYSE:CI)

Alpha Cubed Investments LLC trimmed its position in The Cigna Group (NYSE:CI) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,168 shares of the health services provider’s stock after selling 37 shares during the quarter. Alpha Cubed Investments LLC’s holdings in The Cigna Group were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $34,000. Ulland Investment Advisors LLC lifted its position in 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 purchased a new position in shares of The Cigna Group during the third quarter worth about $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the third quarter worth about $45,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of The Cigna Group during the third quarter worth about $69,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI opened at $288.48 on Wednesday. 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 stock’s 50 day moving average is $300.19 and its two-hundred day moving average is $326.51. 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 $80.24 billion, a PE ratio of 27.21, a P/E/G ratio of 0.77 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the company posted $6.77 earnings per share. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. Research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CI. 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 note on Friday, November 1st. Barclays raised their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price 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. Truist Financial decreased their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Piper Sandler restated 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. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.