Pacer Advisors Inc. Raises Position in The Cigna Group (NYSE:CI)

Pacer Advisors Inc. raised its holdings in shares of The Cigna Group (NYSE:CI) by 61.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,773 shares of the health services provider’s stock after acquiring an additional 13,241 shares during the period. Pacer Advisors Inc.’s holdings in The Cigna Group were worth $9,602,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC purchased a new position in The Cigna Group in the 2nd quarter worth approximately $523,000. NewEdge Advisors LLC grew its position in The Cigna Group by 36.5% in the second quarter. NewEdge Advisors LLC now owns 19,522 shares of the health services provider’s stock worth $6,453,000 after acquiring an additional 5,224 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in The Cigna Group by 1.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 20,675 shares of the health services provider’s stock valued at $6,836,000 after acquiring an additional 272 shares during the last quarter. EP Wealth Advisors LLC raised its position in The Cigna Group by 13.2% during the second quarter. EP Wealth Advisors LLC now owns 5,434 shares of the health services provider’s stock valued at $1,796,000 after purchasing an additional 633 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in The Cigna Group by 1.4% during the second quarter. Cetera Investment Advisers now owns 63,156 shares of the health services provider’s stock worth $20,878,000 after purchasing an additional 895 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

Shares of CI opened at $303.49 on Thursday. The company has a 50-day simple moving average of $296.45 and a two-hundred day simple moving average of $325.14. 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 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 Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for 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 firm’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 earnings per share. On average, analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. 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 note on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Finally, 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 research note on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group has a consensus 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.