Harbor Investment Advisory LLC Boosts Holdings in The Cigna Group (NYSE:CI)

Harbor Investment Advisory LLC raised its position in The Cigna Group (NYSE:CI) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,797 shares of the health services provider’s stock after acquiring an additional 72 shares during the period. Harbor Investment Advisory LLC’s holdings in The Cigna Group were worth $496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after purchasing an additional 31 shares during the period. IFG Advisors LLC lifted its position in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. grew its stake in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares during the period. SPC Financial Inc. increased its position in shares of The Cigna Group by 0.7% in the second quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock worth $1,692,000 after acquiring an additional 34 shares in the last quarter. Finally, Castle Rock Wealth Management LLC raised its stake in shares of The Cigna Group by 0.5% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock valued at $2,263,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Truist Financial lowered their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reduced their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. 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. According to 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 Stock Performance

Shares of CI stock opened at $288.48 on Wednesday. The stock has a market capitalization of $80.24 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 0.77 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company’s 50-day simple moving average is $300.19 and its 200-day simple moving average is $326.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 EPS. Equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group 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.