The Cigna Group (NYSE:CI) Stock Rating Reaffirmed by Cantor Fitzgerald

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $400.00 price target on the health services provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 12.29% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler initiated coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird initiated coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Finally, Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. One investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Performance

NYSE CI opened at $356.21 on Monday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a 50-day simple moving average of $345.60 and a 200 day simple moving average of $344.67. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $101.19 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the company posted $6.13 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.48 EPS for the current year.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred 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 transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CI. Silicon Valley Capital Partners increased its position in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the 1st quarter valued at $29,000. Raleigh Capital Management Inc. increased its position in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the 2nd quarter valued at $33,000. Finally, Pineridge Advisors LLC purchased a new position in The Cigna Group during the 4th quarter valued at $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.