Foster Victor Wealth Advisors LLC Has $15.65 Million Position in The Cigna Group (NYSE:CI)

Foster Victor Wealth Advisors LLC increased its stake in shares of The Cigna Group (NYSE:CI) by 20.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,109 shares of the health services provider’s stock after purchasing an additional 9,364 shares during the quarter. The Cigna Group makes up about 1.2% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Foster Victor Wealth Advisors LLC’s holdings in The Cigna Group were worth $15,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in CI. International Assets Investment Management LLC raised its stake in shares of The Cigna Group by 49,287.7% during the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $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% during 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 last quarter. Raymond James & Associates raised its position in The Cigna Group by 42.8% during the 3rd 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. lifted its holdings in The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after buying an additional 202,161 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in shares of The Cigna Group in 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 NYSE CI opened at $302.74 on Wednesday. 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 firm’s 50-day simple moving average is $296.45 and its 200 day simple moving average is $325.14. 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 fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.77 earnings per share. As a group, research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CI has been the topic of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. 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. Piper Sandler reissued an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Truist Financial lowered their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $395.93.

About The Cigna Group

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.