Barclays Forecasts Strong Price Appreciation for The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CI) had its price target boosted by stock analysts at Barclays from $405.00 to $420.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Barclays‘s price target suggests a potential upside of 33.30% from the stock’s current price.

Several other research firms also recently weighed in on CI. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $315.09 on Tuesday. The stock has a market capitalization of $87.64 billion, a P/E ratio of 29.73, a PEG ratio of 0.96 and a beta of 0.51. The business has a 50 day simple moving average of $343.37 and a two-hundred day simple moving average of $340.80. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during 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 firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. As a group, analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Checchi Capital Advisers LLC boosted its holdings in The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in The Cigna Group by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares in the last quarter. IFG Advisors LLC boosted its stake in shares of The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares during the period. McClarren Financial Advisors Inc. grew its position in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after buying an additional 32 shares during the period. Hedge funds and other 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.