Jefferies Financial Group Increases The Cigna Group (NYSE:CI) Price Target to $422.00

The Cigna Group (NYSE:CI) had its price target upped by investment analysts at Jefferies Financial Group from $402.00 to $422.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the health services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 18.74% from the company’s current price.

A number of other equities analysts have also recently commented on CI. Piper Sandler assumed coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Performance

NYSE:CI opened at $355.39 on Tuesday. The stock has a fifty day moving average price of $346.11 and a 200-day moving average price of $344.75. The company has a market cap of $100.96 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the company posted $6.13 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Asset Advisory Services LLC increased its position in The Cigna Group by 2.3% in the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after buying an additional 29 shares during the last quarter. Checchi Capital Advisers LLC increased its position in The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in The Cigna Group by 10.6% in the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after buying an additional 32 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its position in The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after buying an additional 32 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.