Parsons Capital Management Inc. RI Cuts Stake in The Cigna Group (NYSE:CI)

Parsons Capital Management Inc. RI reduced its position in shares of The Cigna Group (NYSE:CI) by 46.1% in the fourth quarter, Holdings Channel reports. The firm owned 818 shares of the health services provider’s stock after selling 700 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in The Cigna Group were worth $226,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CI. FMR LLC increased its position in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after purchasing an additional 130,048 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 22,408 shares during the last quarter. Parnassus Investments LLC lifted its holdings in shares of 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 valued at $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 valued at $751,414,000 after buying an additional 44,810 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 1.0 %

The Cigna Group stock opened at $302.74 on Wednesday. The company has a current ratio of 0.72, a quick 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 firm has a market capitalization of $84.21 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 0.78 and a beta of 0.54. The firm has a 50 day moving average of $296.85 and a 200 day moving average of $325.37.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate 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 last year, the firm earned $6.77 EPS. As a group, research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CI shares. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Truist Financial cut their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, 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 report on Monday, November 4th. One investment 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. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target 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.