Red Door Wealth Management LLC Trims Stake in The Cigna Group (NYSE:CI)

Red Door Wealth Management LLC decreased its position in The Cigna Group (NYSE:CI) by 2.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,396 shares of the health services provider’s stock after selling 75 shares during the quarter. Red Door Wealth Management LLC’s holdings in The Cigna Group were worth $938,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares during the last quarter. Ameriprise Financial Inc. increased its position in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of The Cigna Group by 145.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock valued at $225,899,000 after purchasing an additional 404,791 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after buying an additional 399,230 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $294.98 on Friday. The company’s fifty day moving average price is $298.30 and its 200 day moving average price is $326.03. 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 Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a market capitalization of $82.05 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates 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 for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. On average, research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on CI shares. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $395.93.

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.