The Cigna Group (NYSE:CI) PT Raised to $405.00

The Cigna Group (NYSE:CI) had its price target lifted by analysts at Barclays from $393.00 to $405.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Barclays‘s price target would indicate a potential upside of 20.06% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Oppenheimer raised their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, July 10th. Piper Sandler initiated coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Finally, Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $379.06.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $337.33 on Friday. The stock’s 50-day moving average is $335.80 and its 200 day moving average is $338.95. The stock has a market cap of $95.83 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 1.02 and a beta of 0.52. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. 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 Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the firm posted $6.13 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cigna Group will post 28.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Elder Granger sold 547 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Cigna Group

Hedge funds have recently added to or reduced their stakes in the company. Hudock Inc. purchased a new position in The Cigna Group in the 2nd quarter worth about $228,000. 9258 Wealth Management LLC raised its holdings in shares of The Cigna Group by 0.7% during the second quarter. 9258 Wealth Management LLC now owns 5,565 shares of the health services provider’s stock valued at $1,840,000 after purchasing an additional 40 shares during the last quarter. National Bank of Canada FI lifted its position in The Cigna Group by 82.8% during the second quarter. National Bank of Canada FI now owns 316,399 shares of the health services provider’s stock valued at $103,206,000 after purchasing an additional 143,359 shares during the period. Foster & Motley Inc. boosted its holdings in The Cigna Group by 18.4% in the second quarter. Foster & Motley Inc. now owns 5,447 shares of the health services provider’s stock worth $1,801,000 after purchasing an additional 845 shares during the last quarter. Finally, Strategy Asset Managers LLC bought a new stake in The Cigna Group in the 2nd quarter worth approximately $855,000. 86.99% of the stock is currently 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.