Merit Financial Group LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

Merit Financial Group LLC grew its position in The Cigna Group (NYSE:CI) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,333 shares of the health services provider’s stock after purchasing an additional 316 shares during the period. Merit Financial Group LLC’s holdings in The Cigna Group were worth $644,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Ulland Investment Advisors LLC raised its position in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group in the third quarter worth $37,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth $34,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter valued at $45,000. Finally, Intact Investment Management Inc. purchased a new stake in The Cigna Group in the third quarter valued at $69,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 0.2 %

CI stock opened at $289.04 on Thursday. The business’s 50-day moving average is $299.16 and its 200 day moving average is $326.29. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a market cap of $80.40 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 0.77 and a beta of 0.54. 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 (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial dropped their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays boosted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. One equities 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.