Cigna Group $CI is Banyan Capital Management Inc.’s 4th Largest Position

Banyan Capital Management Inc. raised its holdings in Cigna Group (NYSE:CI) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 60,144 shares of the health services provider’s stock after acquiring an additional 4,639 shares during the period. Cigna Group accounts for about 7.9% of Banyan Capital Management Inc.’s holdings, making the stock its 4th biggest position. Banyan Capital Management Inc.’s holdings in Cigna Group were worth $17,328,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CI. Valley Wealth Managers Inc. raised its stake in Cigna Group by 1.0% during the third quarter. Valley Wealth Managers Inc. now owns 61,771 shares of the health services provider’s stock valued at $17,806,000 after buying an additional 604 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Cigna Group by 61.0% during the third quarter. Foundations Investment Advisors LLC now owns 3,581 shares of the health services provider’s stock valued at $1,032,000 after acquiring an additional 1,357 shares during the period. AE Wealth Management LLC boosted its stake in Cigna Group by 47.2% during the 3rd quarter. AE Wealth Management LLC now owns 6,207 shares of the health services provider’s stock valued at $1,790,000 after purchasing an additional 1,991 shares during the period. LRI Investments LLC grew its holdings in Cigna Group by 2.9% in the 3rd quarter. LRI Investments LLC now owns 5,252 shares of the health services provider’s stock worth $1,514,000 after buying an additional 148 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its stake in shares of Cigna Group by 9.8% in the third quarter. Great Lakes Advisors LLC now owns 1,095 shares of the health services provider’s stock worth $316,000 after purchasing an additional 98 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CI shares. Morgan Stanley reiterated an “overweight” rating and set a $355.00 price target on shares of Cigna Group in a research report on Friday, October 31st. The Goldman Sachs Group decreased their price target on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Raymond James Financial reiterated a “strong-buy” rating on shares of Cigna Group in a research report on Monday, November 3rd. Zacks Research upgraded Cigna Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $307.00 price objective on shares of Cigna Group in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $330.36.

Insider Transactions at Cigna Group

In other Cigna Group news, CEO David Cordani purchased 4,134 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the transaction, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Cigna Group Price Performance

Shares of NYSE:CI opened at $271.18 on Friday. The company has a market cap of $72.44 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.96 and a beta of 0.26. The business has a 50 day moving average price of $274.66 and a 200 day moving average price of $284.85. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00.

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

About Cigna Group

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.