Piper Sandler Reaffirms “Overweight” Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a research note issued to investors on Monday,Benzinga reports. They currently have a $348.00 price objective on the health services provider’s stock, down from their previous price objective of $394.00. Piper Sandler’s price objective would suggest a potential upside of 19.25% from the company’s current price.

CI has been the subject of a number of other reports. Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Morgan Stanley decreased their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Truist Financial cut their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Oppenheimer lowered their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, Cantor Fitzgerald reduced their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $376.63.

The Cigna Group Trading Down 0.2 %

NYSE:CI opened at $291.84 on Monday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market cap of $81.17 billion, a P/E ratio of 23.84, a P/E/G ratio of 0.97 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a 50-day simple moving average of $293.59 and a 200-day simple moving average of $323.84.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $6.79 earnings per share. As a group, analysts anticipate that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Collier Financial purchased a new position in The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the fourth quarter valued at approximately $34,000. Ulland Investment Advisors LLC lifted its stake in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the third quarter worth approximately $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group in the 4th 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.