Convergence Investment Partners LLC Has $1.49 Million Position in Cigna Group $CI

Convergence Investment Partners LLC increased its stake in Cigna Group (NYSE:CI) by 427.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,175 shares of the health services provider’s stock after acquiring an additional 4,193 shares during the period. Convergence Investment Partners LLC’s holdings in Cigna Group were worth $1,492,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC raised its position in shares of Cigna Group by 2.3% during the second quarter. Pathway Financial Advisers LLC now owns 1,501 shares of the health services provider’s stock worth $496,000 after acquiring an additional 34 shares during the last quarter. Armstrong Advisory Group Inc. increased its position in Cigna Group by 17.7% in the third quarter. Armstrong Advisory Group Inc. now owns 226 shares of the health services provider’s stock worth $65,000 after purchasing an additional 34 shares during the period. HM Payson & Co. increased its position in Cigna Group by 0.9% in the third quarter. HM Payson & Co. now owns 3,785 shares of the health services provider’s stock worth $1,091,000 after purchasing an additional 35 shares during the period. Carr Financial Group Corp raised its holdings in Cigna Group by 5.3% during the 3rd quarter. Carr Financial Group Corp now owns 709 shares of the health services provider’s stock worth $204,000 after purchasing an additional 36 shares during the last quarter. Finally, Natural Investments LLC lifted its position in Cigna Group by 2.0% during the 3rd quarter. Natural Investments LLC now owns 1,843 shares of the health services provider’s stock valued at $531,000 after purchasing an additional 36 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CI. TD Cowen set a $333.00 price objective on shares of Cigna Group in a research note on Monday, December 15th. JPMorgan Chase & Co. decreased their price objective on Cigna Group from $428.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Robert W. Baird reduced their price target on Cigna Group from $372.00 to $315.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Finally, Guggenheim reaffirmed a “buy” rating and set a $318.00 price target on shares of Cigna Group in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.84.

Cigna Group Stock Performance

Shares of NYSE CI opened at $273.69 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day moving average price of $274.57 and a 200 day moving average price of $284.38. The stock has a market capitalization of $73.11 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.97 and a beta of 0.27. Cigna Group has a 52 week low of $239.51 and a 52 week high of $350.00.

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

Cigna Group 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.