Genesis Private Wealth LLC Makes New Investment in The Cigna Group (NYSE:CI)

Genesis Private Wealth LLC purchased a new stake in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,317 shares of the health services provider’s stock, valued at approximately $364,000.

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

The Cigna Group Stock Performance

NYSE CI opened at $288.48 on Wednesday. The firm has a market cap 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 company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a 50 day moving average of $300.19 and a 200-day moving average of $326.51.

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 analysts’ consensus estimates 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 net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business earned $6.77 earnings per share. On average, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CI. Barclays lifted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial lowered their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned 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 price target of $395.93.

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.