Exchange Traded Concepts LLC Has $880,000 Stake in The Cigna Group (NYSE:CI)

Exchange Traded Concepts LLC reduced its stake in shares of The Cigna Group (NYSE:CI) by 44.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,188 shares of the health services provider’s stock after selling 2,512 shares during the quarter. Exchange Traded Concepts LLC’s holdings in The Cigna Group were worth $880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Wealth Management LLC raised its holdings in The Cigna Group by 3.6% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,636 shares of the health services provider’s stock worth $452,000 after purchasing an additional 57 shares during the period. Brighton Jones LLC increased its position in shares of The Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after buying an additional 318 shares in the last quarter. Lincoln Capital Corp acquired a new stake in The Cigna Group during the 4th quarter worth $380,000. Montecito Bank & Trust lifted its holdings in The Cigna Group by 20.2% during the fourth quarter. Montecito Bank & Trust now owns 2,390 shares of the health services provider’s stock worth $660,000 after acquiring an additional 401 shares in the last quarter. Finally, Goldstein Advisors LLC grew its stake in The Cigna Group by 25.5% in the fourth quarter. Goldstein Advisors LLC now owns 1,083 shares of the health services provider’s stock valued at $299,000 after acquiring an additional 220 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 1.0 %

NYSE CI opened at $302.74 on Wednesday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 stock has a 50 day moving average of $296.85 and a 200-day moving average of $325.37. The company has a market cap of $84.21 billion, a PE ratio of 28.56, a PEG ratio of 0.78 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 1.31% and a return on equity of 18.42%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

Analysts Set New Price Targets

CI has been the topic of several recent analyst reports. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of 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. Finally, Truist Financial dropped their price target on 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. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has a consensus 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.