Cigna Group (NYSE:CI) Stock Rating Upgraded by TD Cowen

Cigna Group (NYSE:CI) was upgraded by analysts at TD Cowen to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

CI has been the topic of several other research reports. Morgan Stanley upped their price target on Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Piper Sandler lifted their price target on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Cowen reaffirmed a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Cantor Fitzgerald raised their target price on shares of Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, Truist Financial boosted their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $380.39.

Cigna Group Stock Performance

Shares of CI opened at $316.83 on Monday. The firm has a market capitalization of $84.64 billion, a PE ratio of 17.54, a P/E/G ratio of 0.94 and a beta of 0.44. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $321.01 and a 200 day moving average price of $307.59. Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.47 earnings per share. On average, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CI. Price T Rowe Associates Inc. MD increased its stake in Cigna Group by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Cigna Group by 0.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock worth $3,834,493,000 after purchasing an additional 98,715 shares in the last quarter. Dodge & Cox increased its position in shares of Cigna Group by 1.3% during the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider’s stock valued at $2,924,722,000 after purchasing an additional 117,125 shares during the period. Sanders Capital LLC raised its stake in shares of Cigna Group by 2.0% in the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock valued at $2,224,296,000 after purchasing an additional 154,420 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after purchasing an additional 101,737 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Company 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.