Cantor Fitzgerald Reiterates “Overweight” Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They presently have a $400.00 price objective on the health services provider’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 14.46% from the company’s current price.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. 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 research note on Tuesday, September 17th. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Up 0.9 %

Shares of NYSE CI traded up $3.02 during mid-day trading on Tuesday, reaching $349.46. The company had a trading volume of 159,921 shares, compared to its average volume of 1,496,535. The firm has a 50 day simple moving average of $348.38 and a two-hundred day simple moving average of $345.28. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. 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 cap of $99.27 billion, a P/E ratio of 28.69, a PEG ratio of 1.08 and a beta of 0.50.

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

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of The Cigna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners grew its holdings in shares of The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the 1st quarter valued at $29,000. Raleigh Capital Management Inc. lifted its stake in shares of 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 worth $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the second quarter worth $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The 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.