The Cigna Group (NYSE:CI) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

The Cigna Group (NYSE:CI) had its target price boosted by equities research analysts at Cantor Fitzgerald from $350.00 to $365.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price target points to a potential upside of 15.22% from the stock’s previous close.

CI has been the topic of several other research reports. Wells Fargo & Company cut their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial cut their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Trading Down 1.4 %

Shares of NYSE CI opened at $316.78 on Thursday. The company has a market cap of $86.70 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 stock’s 50 day simple moving average is $300.83 and its 200 day simple moving average is $315.40.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the company posted $6.79 earnings per share. Equities research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction 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 transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds have recently modified their holdings of CI. Sterling Financial Group Inc. purchased a new position in shares of The Cigna Group during the fourth quarter valued at $4,367,000. Principal Financial Group Inc. grew its holdings in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after buying an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after buying an additional 858 shares in the last quarter. Valley Wealth Managers Inc. grew its holdings in shares of The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after buying an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in shares of The Cigna Group by 28.3% during the third 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 buying an additional 3,466 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.