The Cigna Group (NYSE:CI) Shares Sold by Gries Financial LLC

Gries Financial LLC decreased its holdings in shares of The Cigna Group (NYSE:CI) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,790 shares of the health services provider’s stock after selling 368 shares during the period. Gries Financial LLC’s holdings in The Cigna Group were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Algert Global LLC purchased a new position in shares of The Cigna Group in the second quarter worth approximately $523,000. NewEdge Advisors LLC boosted its stake in The Cigna Group by 36.5% in the 2nd quarter. NewEdge Advisors LLC now owns 19,522 shares of the health services provider’s stock worth $6,453,000 after purchasing an additional 5,224 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in The Cigna Group by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 20,675 shares of the health services provider’s stock worth $6,836,000 after purchasing an additional 272 shares during the period. EP Wealth Advisors LLC boosted its stake in The Cigna Group by 13.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 5,434 shares of the health services provider’s stock worth $1,796,000 after purchasing an additional 633 shares during the period. Finally, Cetera Investment Advisers boosted its stake in The Cigna Group by 1.4% in the 2nd quarter. Cetera Investment Advisers now owns 63,156 shares of the health services provider’s stock worth $20,878,000 after purchasing an additional 895 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. 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 note on Monday, November 4th. Barclays upped their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Price Performance

CI opened at $303.49 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a fifty day simple moving average of $296.45 and a 200 day simple moving average of $325.14. The stock has a market cap of $84.42 billion, a P/E ratio of 28.63, a P/E/G ratio of 0.78 and a beta of 0.54.

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, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 EPS. On average, research analysts expect that The Cigna Group will post 28.5 EPS for the current year.

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.