KBC Group NV Raises Holdings in The Cigna Group (NYSE:CI)

KBC Group NV boosted its position in The Cigna Group (NYSE:CI) by 1.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 550,638 shares of the health services provider’s stock after purchasing an additional 8,077 shares during the quarter. KBC Group NV’s holdings in The Cigna Group were worth $152,053,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CI. Sterling Financial Group Inc. acquired a new stake in The Cigna Group in the 4th quarter valued at $4,367,000. Marks Group Wealth Management Inc lifted its position in 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 worth $8,319,000 after acquiring an additional 23,376 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares during the period. Trinity Street Asset Management LLP grew its position in The Cigna Group by 7.1% in the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after acquiring an additional 5,397 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set 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 target price on shares of The Cigna Group in a research note on Friday, November 1st. Finally, Royal Bank of Canada dropped their price target on shares of 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. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Stock Down 0.3 %

NYSE:CI opened at $294.18 on Monday. 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 has a 50 day moving average of $297.18 and a 200-day moving average of $325.59. The firm has a market capitalization of $81.82 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last issued 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 return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business earned $6.77 EPS. Analysts predict that The Cigna Group will post 28.5 EPS for the current year.

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.