Cigna Group $CI Shares Bought by Banyan Capital Management Inc.

Banyan Capital Management Inc. lifted its holdings in Cigna Group (NYSE:CI) by 8.4% during the 3rd quarter, Holdings Channel reports. The fund owned 60,144 shares of the health services provider’s stock after acquiring an additional 4,639 shares during the quarter. Cigna Group makes up approximately 7.9% of Banyan Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Banyan Capital Management Inc.’s holdings in Cigna Group were worth $17,328,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Maj Invest Holding A S boosted its holdings in Cigna Group by 2.4% in the third quarter. Maj Invest Holding A S now owns 422,728 shares of the health services provider’s stock valued at $121,854,000 after acquiring an additional 10,042 shares during the last quarter. SCS Capital Management LLC raised its holdings in Cigna Group by 39.1% during the 2nd quarter. SCS Capital Management LLC now owns 30,633 shares of the health services provider’s stock worth $10,127,000 after purchasing an additional 8,609 shares during the last quarter. Retirement Systems of Alabama lifted its position in Cigna Group by 3.9% during the 2nd quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after purchasing an additional 6,155 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Cigna Group by 3.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after purchasing an additional 1,357 shares during the last quarter. Finally, Natixis boosted its stake in shares of Cigna Group by 69.5% in the 2nd quarter. Natixis now owns 223,884 shares of the health services provider’s stock valued at $74,012,000 after purchasing an additional 91,794 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Stock Performance

Shares of Cigna Group stock opened at $271.18 on Friday. The stock’s fifty day simple moving average is $274.66 and its 200 day simple moving average is $284.85. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $72.44 billion, a PE ratio of 11.96, a PEG ratio of 0.96 and a beta of 0.26. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.64 by $0.19. The company had revenue of $69.57 billion during the quarter, compared to the consensus estimate of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $7.51 earnings per share. On average, research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Insider Activity

In other Cigna Group news, CEO David Cordani bought 4,134 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $241.88 per share, with a total value of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CI. Robert W. Baird cut their price objective on shares of Cigna Group from $372.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, December 11th. Cantor Fitzgerald dropped their target price on shares of Cigna Group from $365.00 to $325.00 in a research report on Friday, October 31st. Morgan Stanley restated an “overweight” rating and issued a $355.00 price target on shares of Cigna Group in a research report on Friday, October 31st. Leerink Partners decreased their price objective on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Finally, Wall Street Zen lowered Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $330.36.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.