Griffin Asset Management Inc. Buys 39 Shares of The Cigna Group (NYSE:CI)

Griffin Asset Management Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,770 shares of the health services provider’s stock after acquiring an additional 39 shares during the quarter. Griffin Asset Management Inc.’s holdings in The Cigna Group were worth $1,869,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CI. International Assets Investment Management LLC increased its holdings in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after acquiring an additional 399,230 shares in the last quarter. FMR LLC grew its position 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 valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Raymond James & Associates increased its stake in The Cigna Group by 42.8% during the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after purchasing an additional 257,711 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in The Cigna Group by 68.4% during the 4th 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 during the period. Finally, World Investment Advisors LLC bought a new position in The Cigna Group in the third quarter valued at approximately $69,972,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Barclays lifted their target price 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 reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One research 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Performance

Shares of CI stock opened at $305.91 on Tuesday. 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 has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a market capitalization of $85.09 billion, a P/E ratio of 28.86, a PEG ratio of 0.78 and a beta of 0.54. The stock has a 50 day moving average price of $297.18 and a two-hundred day moving average price of $325.56.

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

The Cigna Group Company 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.