AlphaQuest LLC Sells 4,854 Shares of Cigna Group $CI

AlphaQuest LLC decreased its position in shares of Cigna Group (NYSE:CI) by 68.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,286 shares of the health services provider’s stock after selling 4,854 shares during the period. AlphaQuest LLC’s holdings in Cigna Group were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CI. Massachusetts Financial Services Co. MA boosted its holdings in Cigna Group by 1.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,778,472 shares of the health services provider’s stock worth $3,893,727,000 after buying an additional 123,479 shares during the period. Dodge & Cox boosted its stake in shares of Cigna Group by 0.7% in the second quarter. Dodge & Cox now owns 8,950,610 shares of the health services provider’s stock worth $2,958,893,000 after acquiring an additional 60,877 shares during the period. Norges Bank purchased a new stake in shares of Cigna Group during the second quarter worth about $1,110,426,000. Arrowstreet Capital Limited Partnership raised its stake in Cigna Group by 24.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,508,740 shares of the health services provider’s stock valued at $829,339,000 after purchasing an additional 492,045 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cigna Group by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,052,912 shares of the health services provider’s stock worth $678,652,000 after purchasing an additional 15,014 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CI shares. Wall Street Zen cut shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Leerink Partners cut their target price on shares of Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Morgan Stanley reiterated an “overweight” rating and issued a $355.00 price target on shares of Cigna Group in a research note on Friday, October 31st. Barclays raised their price objective on Cigna Group from $300.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $310.00 target price on shares of Cigna Group in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $323.84.

Cigna Group Price Performance

NYSE:CI opened at $275.69 on Wednesday. The firm has a market capitalization of $73.65 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.96 and a beta of 0.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50 day simple moving average of $274.50 and a 200-day simple moving average of $284.05. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00.

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.