Red Spruce Capital LLC Raises Stock Holdings in The Cigna Group (NYSE:CI)

Red Spruce Capital LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,016 shares of the health services provider’s stock after buying an additional 683 shares during the quarter. Red Spruce Capital LLC’s holdings in The Cigna Group were worth $2,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CI. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the 4th quarter worth approximately $34,000. Ulland Investment Advisors LLC boosted its stake in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the third quarter worth $37,000. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group during the third quarter valued at $45,000. Finally, Intact Investment Management Inc. bought a new position in The Cigna Group in the third quarter valued at about $69,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CI. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. 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. Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. 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 research report on Monday, November 4th. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Performance

NYSE:CI opened at $288.48 on Wednesday. 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 company has a market cap of $80.24 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 0.77 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 stock’s 50 day simple moving average is $300.19 and its two-hundred day simple moving average is $326.51.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) 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 company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the company earned $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. As a group, equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

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.