The Cigna Group (NYSE:CI) Earns Overweight Rating from Stephens

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reissued by stock analysts at Stephens in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $410.00 target price on the health services provider’s stock. Stephens’ price objective suggests a potential upside of 29.55% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group lifted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Barclays lifted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $392.29.

The Cigna Group Trading Up 0.5 %

NYSE:CI opened at $316.49 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $88.47 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 0.95 and a beta of 0.50. The firm has a fifty day simple moving average of $345.77 and a two-hundred day simple moving average of $341.51. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the company posted $6.77 earnings per share. Analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Several hedge funds and other institutional investors have recently modified their holdings of CI. Kovack Advisors Inc. bought a new stake in shares of The Cigna Group in the first quarter valued at approximately $214,000. Ashton Thomas Private Wealth LLC raised its position in shares of The Cigna Group by 4.1% in the first quarter. Ashton Thomas Private Wealth LLC now owns 3,012 shares of the health services provider’s stock valued at $1,094,000 after purchasing an additional 119 shares during the period. Norden Group LLC raised its position in shares of The Cigna Group by 22.3% in the first quarter. Norden Group LLC now owns 2,355 shares of the health services provider’s stock valued at $855,000 after purchasing an additional 429 shares during the period. Mission Wealth Management LP raised its position in shares of The Cigna Group by 9.9% in the first quarter. Mission Wealth Management LP now owns 1,010 shares of the health services provider’s stock valued at $367,000 after purchasing an additional 91 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of The Cigna Group by 21.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after purchasing an additional 16,846 shares during the period. Institutional investors own 86.99% of the company’s stock.

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.