The Cigna Group (NYSE:CI) Price Target Raised to $365.00

The Cigna Group (NYSE:CI) had its price objective increased by research analysts at Cantor Fitzgerald from $350.00 to $365.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 13.57% from the stock’s current price.

A number of other brokerages also recently commented on CI. Truist Financial decreased their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Oppenheimer dropped their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Morgan Stanley reduced their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $373.25.

The Cigna Group Stock Up 0.2 %

Shares of CI stock traded up $0.57 on Thursday, hitting $321.40. 106,487 shares of the stock were exchanged, compared to its average volume of 1,550,651. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $87.96 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50-day moving average of $299.23 and a 200 day moving average of $315.68.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $6.79 earnings per share. Equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

Insiders Place Their Bets

In other news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CI. 111 Capital purchased a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $1,287,000. Wealth Enhancement Advisory Services LLC boosted its position in The Cigna Group by 92.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 102,647 shares of the health services provider’s stock valued at $28,345,000 after buying an additional 49,420 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in The Cigna Group in the 4th quarter worth $3,093,000. Castle Rock Wealth Management LLC increased its position in shares of The Cigna Group by 6.3% in the fourth quarter. Castle Rock Wealth Management LLC now owns 7,067 shares of the health services provider’s stock valued at $2,066,000 after acquiring an additional 416 shares during the period. Finally, Copley Financial Group Inc. raised its stake in shares of The Cigna Group by 7.8% during the fourth quarter. Copley Financial Group Inc. now owns 1,347 shares of the health services provider’s stock valued at $372,000 after acquiring an additional 98 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.