Goelzer Investment Management Inc. Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Goelzer Investment Management Inc. lowered its holdings in The Cigna Group (NYSE:CI) by 2.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,971 shares of the health services provider’s stock after selling 439 shares during the quarter. Goelzer Investment Management Inc.’s holdings in The Cigna Group were worth $4,410,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Gradient Investments LLC increased its holdings in The Cigna Group by 10.5% in the 4th quarter. Gradient Investments LLC now owns 41,282 shares of the health services provider’s stock valued at $11,400,000 after purchasing an additional 3,910 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of The Cigna Group by 3.6% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,636 shares of the health services provider’s stock worth $452,000 after buying an additional 57 shares during the period. Brighton Jones LLC raised its holdings in shares of The Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after buying an additional 318 shares during the period. Lincoln Capital Corp purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $380,000. Finally, Montecito Bank & Trust lifted its position in The Cigna Group by 20.2% during the 4th quarter. Montecito Bank & Trust now owns 2,390 shares of the health services provider’s stock worth $660,000 after acquiring an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $294.18 on Friday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 firm has a market cap of $81.83 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 0.78 and a beta of 0.54. The stock has a 50 day moving average of $297.72 and a 200-day moving average of $325.82.

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

Analysts Set New Price Targets

CI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered 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 research report on Monday, November 4th. Barclays raised their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada cut 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. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $395.93.

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.