The Cigna Group’s (CI) Overweight Rating Reiterated at Cantor Fitzgerald

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $400.00 price objective on the health services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 8.97% from the company’s previous close.

CI has been the subject of a number of other reports. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target for the company. Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $387.00.

The Cigna Group Stock Performance

CI stock traded up $2.37 during midday trading on Monday, reaching $367.09. The stock had a trading volume of 167,807 shares, compared to its average volume of 1,515,878. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a market cap of $102.62 billion, a PE ratio of 30.14, a P/E/G 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 firm has a fifty day simple moving average of $344.18 and a two-hundred day simple moving average of $344.29.

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

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated 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 approximately $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction 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 sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds and other institutional investors have recently made changes to their positions in CI. Silicon Valley Capital Partners grew its holdings in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC acquired a new stake in The Cigna Group in the first quarter valued at $29,000. Raleigh Capital Management Inc. lifted its holdings in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group during the 2nd quarter worth about $33,000. Finally, Pineridge Advisors LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.