United Asset Strategies Inc. Sells 3,221 Shares of The Cigna Group (NYSE:CI)

United Asset Strategies Inc. lowered its position in shares of The Cigna Group (NYSE:CI) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,924 shares of the health services provider’s stock after selling 3,221 shares during the period. The Cigna Group comprises about 1.1% of United Asset Strategies Inc.’s holdings, making the stock its 28th largest holding. United Asset Strategies Inc.’s holdings in The Cigna Group were worth $12,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Deerfield Management Company L.P. Series C bought a new position in The Cigna Group during the second quarter valued at approximately $244,000. Maverick Capital Ltd. bought a new stake in The Cigna Group in the second quarter worth $490,000. Susquehanna Fundamental Investments LLC purchased a new stake in The Cigna Group during the second quarter valued at about $4,297,000. Kathmere Capital Management LLC grew its stake in shares of The Cigna Group by 8.0% during the second quarter. Kathmere Capital Management LLC now owns 1,211 shares of the health services provider’s stock valued at $400,000 after buying an additional 90 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of The Cigna Group in the second quarter worth about $523,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.3 %

CI stock opened at $294.18 on Monday. The company has a market capitalization of $81.82 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50 day moving average price is $297.18 and its two-hundred day moving average price is $325.59. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during 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% compared to the same quarter last year. During the same period last year, the business earned $6.77 EPS. As a group, analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Barclays upped their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price 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.