Grimes & Company Inc. Increases Stock Position in The Cigna Group (NYSE:CI)

Grimes & Company Inc. grew its position in shares of The Cigna Group (NYSE:CI) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,378 shares of the health services provider’s stock after buying an additional 119 shares during the quarter. Grimes & Company Inc.’s holdings in The Cigna Group were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

The Cigna Group Price Performance

NYSE:CI opened at $294.18 on Monday. The firm has a market capitalization of $81.82 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 0.78 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The business has a 50 day simple moving average of $297.18 and a 200-day simple moving average of $325.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share 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 business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the prior year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CI shares. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price 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. Finally, Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target 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.