BDF Gestion Trims Stake in The Cigna Group (NYSE:CI)

BDF Gestion lowered its stake in shares of The Cigna Group (NYSE:CI) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,381 shares of the health services provider’s stock after selling 1,090 shares during the quarter. BDF Gestion’s holdings in The Cigna Group were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in The Cigna Group by 49,287.7% during the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after purchasing an additional 399,230 shares during the period. Swedbank AB grew its position in shares of The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after acquiring an additional 314,123 shares during the period. FMR LLC increased its stake in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Raymond James & Associates lifted its position in The Cigna Group by 42.8% during the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock valued at $297,956,000 after purchasing an additional 257,711 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after buying an additional 202,161 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CI shares. Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Barclays raised 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Price Performance

Shares of CI stock opened at $303.49 on Thursday. 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 stock has a 50 day moving average price of $296.45 and a 200 day moving average price of $325.14. The firm has a market capitalization 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 Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same period in the prior year, the business earned $6.79 EPS. As a group, sell-side 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.