Highland Capital Management LLC Acquires 3,009 Shares of The Cigna Group (NYSE:CI)

Highland Capital Management LLC increased its holdings in The Cigna Group (NYSE:CI) by 21.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,047 shares of the health services provider’s stock after purchasing an additional 3,009 shares during the quarter. Highland Capital Management LLC’s holdings in The Cigna Group were worth $4,707,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. IFG Advisors LLC raised its stake in The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after buying an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares in the last quarter. Castle Rock Wealth Management LLC raised its stake in The Cigna Group by 0.5% in the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after buying an additional 34 shares in the last quarter. Adero Partners LLC raised its stake in The Cigna Group by 4.5% in the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after buying an additional 34 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its stake in The Cigna Group by 1.0% in the third quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock worth $1,265,000 after buying an additional 35 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Truist Financial cut their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Barclays lifted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Price Performance

NYSE:CI opened at $303.49 on Thursday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $84.42 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 0.78 and a beta of 0.54. The firm’s fifty day moving average is $296.45 and its two-hundred day moving average is $325.14.

The Cigna Group (NYSE:CI) last issued 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 business 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 company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 earnings per share. Research analysts expect 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.