Perigon Wealth Management LLC Has $2.35 Million Position in The Cigna Group (NYSE:CI)

Perigon Wealth Management LLC lessened its stake in shares of The Cigna Group (NYSE:CI) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,356 shares of the health services provider’s stock after selling 124 shares during the period. Perigon Wealth Management LLC’s holdings in The Cigna Group were worth $2,348,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Financial Group Inc. bought a new stake in The Cigna Group during the fourth quarter worth about $4,367,000. Marks Group Wealth Management Inc raised its stake in The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares during the period. Principal Financial Group Inc. raised its stake in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after buying an additional 11,228 shares during the period. Trinity Street Asset Management LLP raised its stake in The Cigna Group by 7.1% in the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after buying an additional 5,397 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its stake in The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after buying an additional 3,466 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several research reports. Royal Bank of Canada decreased their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Truist Financial reduced their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Stock Up 0.2 %

Shares of NYSE:CI opened at $303.49 on Thursday. The firm has a market cap of $84.42 billion, a P/E ratio of 28.63, a P/E/G ratio of 0.78 and a beta of 0.54. The company has a quick ratio of 0.72, a current 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 business has a fifty day simple moving average of $296.45 and a 200 day simple moving average of $325.14.

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, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $6.77 EPS. Analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

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.