The Cigna Group’s (CI) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $400.00 target price on the health services provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 14.46% from the company’s previous close.

Several other equities analysts have also commented on CI. Piper Sandler initiated coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Barclays boosted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Trading Up 0.9 %

Shares of The Cigna Group stock traded up $3.02 during trading hours on Tuesday, reaching $349.46. The stock had a trading volume of 159,921 shares, compared to its average volume of 1,496,535. The firm has a market capitalization of $99.27 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.08 and a beta of 0.50. The Cigna Group has a 1 year low of $253.95 and a 1 year 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 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 (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.13 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Silicon Valley Capital Partners boosted its position 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 during the period. Cedar Wealth Management LLC acquired a new stake in The Cigna Group in the 1st quarter valued at approximately $29,000. Raleigh Capital Management Inc. raised its stake in 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 valued at $30,000 after acquiring an additional 41 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in The Cigna Group during the 2nd quarter worth $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $37,000. 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.