The Cigna Group (NYSE:CI) Stock Price Up 5.4% – Here’s Why

The Cigna Group (NYSE:CI)’s stock price traded up 5.4% on Friday . The company traded as high as $293.20 and last traded at $298.19. 201,285 shares were traded during trading, a decline of 88% from the average session volume of 1,707,127 shares. The stock had previously closed at $282.98.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. Truist Financial decreased their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays decreased their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday. Cantor Fitzgerald dropped their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. Raymond James restated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $380.27.

The Cigna Group Stock Up 5.0 %

The company has a market capitalization of $82.64 billion, a PE ratio of 27.99, a P/E/G ratio of 0.82 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50-day moving average is $295.09 and its 200 day moving average is $324.69.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same quarter in the previous year, the firm posted $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds have recently bought and sold shares of CI. Ulland Investment Advisors LLC boosted its stake in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group in the third quarter worth about $37,000. Collier Financial bought a new stake in shares of The Cigna Group during the 4th quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $34,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the 3rd quarter worth approximately $45,000. 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.