Hennion & Walsh Asset Management Inc. Purchases 279 Shares of The Cigna Group (NYSE:CI)

Hennion & Walsh Asset Management Inc. raised its position in The Cigna Group (NYSE:CI) by 35.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,068 shares of the health services provider’s stock after buying an additional 279 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in The Cigna Group were worth $295,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter worth approximately $34,000. Ulland Investment Advisors LLC boosted its holdings in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group in the third quarter valued at $37,000. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group during the 3rd quarter valued at $45,000. Finally, Intact Investment Management Inc. purchased a new stake in The Cigna Group during the 3rd quarter worth about $69,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.6 %

Shares of CI opened at $288.48 on Wednesday. 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 fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a 50 day moving average price of $300.19 and a 200-day moving average price of $326.51. The firm has a market cap of $80.24 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 0.77 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly 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 during 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 was up 29.8% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 earnings per share. As a group, equities research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CI shares. Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler reissued 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. Truist Financial lowered their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. 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.com, the company presently has an average 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.