SG Americas Securities LLC Sells 6,719 Shares of The Cigna Group (NYSE:CI)

SG Americas Securities LLC lessened its stake in shares of The Cigna Group (NYSE:CI) by 54.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,717 shares of the health services provider’s stock after selling 6,719 shares during the period. SG Americas Securities LLC’s holdings in The Cigna Group were worth $1,579,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in 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 valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after acquiring an additional 130,048 shares during the period. Geode Capital Management LLC grew its stake in shares of The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares during the last quarter. Parnassus Investments LLC increased its position in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after acquiring an additional 59,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in The Cigna Group by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after acquiring an additional 44,810 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 4.2 %

Shares of The Cigna Group stock opened at $305.91 on Tuesday. The stock has a market capitalization of $85.09 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 company has a 50-day simple moving average of $297.18 and a 200 day simple moving average of $325.56.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The company 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 Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 earnings per share. Research analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CI shares. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler restated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their target price on 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 research 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 stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $395.93.

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.