Robert W. Baird Lowers The Cigna Group (NYSE:CI) Price Target to $362.00

The Cigna Group (NYSE:CI) had its target price lowered by analysts at Robert W. Baird from $388.00 to $362.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the health services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 9.86% from the stock’s previous close.

A number of other equities analysts also recently commented on CI. Cantor Fitzgerald boosted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Stephens cut their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price of $373.56.

The Cigna Group Price Performance

The Cigna Group stock opened at $329.50 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market cap of $90.18 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The company’s 50 day moving average is $314.43 and its two-hundred day moving average is $311.19.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 period in the previous year, the business earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

Insider Activity at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Garden State Investment Advisory Services LLC acquired a new stake in The Cigna Group during the 3rd quarter valued at $444,000. Advisory Resource Group boosted its stake in shares of The Cigna Group by 2.0% during the third quarter. Advisory Resource Group now owns 13,163 shares of the health services provider’s stock valued at $4,560,000 after acquiring an additional 263 shares during the last quarter. Virtu Financial LLC increased its position in The Cigna Group by 39.6% during the 3rd quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider’s stock worth $5,949,000 after purchasing an additional 4,870 shares in the last quarter. Te Ahumairangi Investment Management Ltd raised its stake in The Cigna Group by 7.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider’s stock valued at $7,003,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the last quarter. Institutional investors and hedge funds 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.