Parsons Capital Management Inc. RI Sells 700 Shares of The Cigna Group (NYSE:CI)

Parsons Capital Management Inc. RI trimmed its position in shares of The Cigna Group (NYSE:CI) by 46.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 818 shares of the health services provider’s stock after selling 700 shares during the period. Parsons Capital Management Inc. RI’s holdings in The Cigna Group were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CI. International Assets Investment Management LLC lifted its holdings in shares of The Cigna Group by 49,287.7% in the 3rd 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 during the last quarter. FMR LLC raised its position in 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 during the period. Raymond James & Associates lifted its stake in The Cigna Group by 42.8% in the third 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 during the last quarter. Assenagon Asset Management S.A. boosted its position in The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after buying an additional 202,161 shares during the period. Finally, World Investment Advisors LLC bought a new position in shares of The Cigna Group during the third quarter valued at about $69,972,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $302.74 on Wednesday. The business’s fifty day moving average is $296.85 and its 200 day moving average is $325.37. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market cap of $84.21 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 0.78 and a beta of 0.54. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping 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 firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the firm earned $6.77 EPS. The company’s revenue was up 29.8% compared to the same quarter last year. Research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped 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. 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 note on Tuesday, November 5th. Truist Financial decreased their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada dropped 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. Finally, StockNews.com cut shares of 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $395.93.

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.