The Cigna Group (NYSE:CI) Now Covered by Guggenheim

Stock analysts at Guggenheim started coverage on shares of The Cigna Group (NYSE:CI) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $384.00 price target on the health services provider’s stock. Guggenheim’s price target indicates a potential upside of 23.68% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday. Stephens lowered their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Barclays reduced their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $374.44.

The Cigna Group Trading Down 1.1 %

CI traded down $3.36 on Wednesday, hitting $310.48. 285,192 shares of the company were exchanged, compared to its average volume of 1,672,594. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a fifty day simple moving average of $309.30 and a two-hundred day simple moving average of $311.80. The stock has a market capitalization of $84.97 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

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 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the business earned $6.79 EPS. Sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % 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 worth $13,603,991. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Cigna Group

Several institutional investors have recently made changes to their positions in CI. Garden State Investment Advisory Services LLC bought a new position in The Cigna Group in the 3rd quarter worth $444,000. MML Investors Services LLC lifted its holdings in The Cigna Group by 6.3% during the third quarter. MML Investors Services LLC now owns 29,633 shares of the health services provider’s stock valued at $10,266,000 after purchasing an additional 1,760 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after purchasing an additional 22,408 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of The Cigna Group by 11.4% in the third quarter. Coldstream Capital Management Inc. now owns 5,016 shares of the health services provider’s stock worth $1,731,000 after purchasing an additional 512 shares in the last quarter. Finally, Empire Financial Management Company LLC raised its position in shares of The Cigna Group by 7.4% during the 3rd quarter. Empire Financial Management Company LLC now owns 2,822 shares of the health services provider’s stock valued at $978,000 after purchasing an additional 195 shares during the period. Institutional investors own 86.99% of the company’s stock.

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.