Highland Capital Management LLC Raises Holdings in The Cigna Group (NYSE:CI)

Highland Capital Management LLC raised its holdings in shares of The Cigna Group (NYSE:CI) by 21.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,047 shares of the health services provider’s stock after purchasing an additional 3,009 shares during the period. Highland Capital Management LLC’s holdings in The Cigna Group were worth $4,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter worth $34,000. Ulland Investment Advisors LLC raised its holdings in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the third quarter valued at about $37,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter valued at about $45,000. Finally, Intact Investment Management Inc. bought a new stake in The Cigna Group during the third quarter valued at about $69,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 0.2 %

Shares of NYSE:CI opened at $303.49 on Thursday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The business has a 50 day simple moving average of $296.45 and a two-hundred day simple moving average of $325.14. The firm has a market capitalization of $84.42 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the business earned $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts predict that The Cigna Group will post 28.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft decreased their price target 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. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.