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

The Cigna Group (NYSE:CI) had its price objective increased by equities research analysts at Cantor Fitzgerald from $350.00 to $365.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 15.22% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Morgan Stanley reduced their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Stock Down 1.4 %

Shares of NYSE:CI opened at $316.78 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock’s fifty day simple moving average is $300.83 and its 200-day simple moving average is $315.40. The company has a market capitalization of $86.70 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the company earned $6.79 earnings per share. As a group, equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently bought and sold shares of the business. Swedbank AB grew its position in shares of The Cigna Group by 26.6% in the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after acquiring an additional 119,681 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of The Cigna Group by 9.2% in the 3rd quarter. Prospera Financial Services Inc now owns 1,378 shares of the health services provider’s stock worth $480,000 after acquiring an additional 116 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of The Cigna Group by 10.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,595 shares of the health services provider’s stock worth $553,000 after acquiring an additional 157 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of The Cigna Group by 121.6% in the 3rd quarter. Avior Wealth Management LLC now owns 1,157 shares of the health services provider’s stock worth $401,000 after acquiring an additional 635 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds 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.