Cigna Group $CI Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its position in shares of Cigna Group (NYSE:CI) by 427.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,175 shares of the health services provider’s stock after buying an additional 4,193 shares during the quarter. Convergence Investment Partners LLC’s holdings in Cigna Group were worth $1,492,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CI. Harbor Capital Advisors Inc. boosted its stake in shares of Cigna Group by 119.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 49 shares in the last quarter. Solstein Capital LLC purchased a new stake in Cigna Group in the 2nd quarter worth about $29,000. Chilton Capital Management LLC acquired a new stake in shares of Cigna Group during the second quarter worth approximately $30,000. Princeton Global Asset Management LLC boosted its stake in shares of Cigna Group by 115.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock valued at $32,000 after buying an additional 52 shares during the period. Finally, Quaker Wealth Management LLC boosted its position in Cigna Group by 201.0% during the second quarter. Quaker Wealth Management LLC now owns 106 shares of the health services provider’s stock valued at $35,000 after purchasing an additional 211 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CI. Robert W. Baird cut their price objective on shares of Cigna Group from $372.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a report on Monday, November 3rd. UBS Group set a $294.00 price objective on Cigna Group in a research report on Wednesday, November 12th. Zacks Research upgraded shares of Cigna Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Truist Financial raised their target price on Cigna Group from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.84.

Cigna Group Stock Up 0.9%

NYSE CI opened at $273.69 on Monday. Cigna Group has a one year low of $239.51 and a one year high of $350.00. The firm has a market cap of $73.11 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.97 and a beta of 0.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $274.57 and its 200 day simple moving average is $284.38.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The business had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. During the same period in the previous year, the business posted $7.51 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.