Raymond James Reaffirms “Strong-Buy” Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI)‘s stock had its “strong-buy” rating reaffirmed by Raymond James in a note issued to investors on Friday,Benzinga reports. They currently have a $360.00 price objective on the health services provider’s stock, down from their previous price objective of $415.00. Raymond James’ price objective points to a potential upside of 21.16% from the stock’s previous close.

Several other analysts have also recently commented on CI. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barclays lowered their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday. Cantor Fitzgerald cut their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, 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 report on Friday. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Price Performance

NYSE:CI traded up $14.14 during trading hours on Friday, hitting $297.12. The company’s stock had a trading volume of 1,539,330 shares, compared to its average volume of 1,768,976. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50-day moving average is $295.09 and its two-hundred day moving average is $324.69. The company has a market capitalization of $82.64 billion, a PE ratio of 28.01, a PEG ratio of 0.82 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its earnings results 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 1.31% and a return on equity of 18.42%. During the same quarter in the previous year, the company earned $6.79 EPS. As a group, research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors have recently modified their holdings of CI. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter worth approximately $34,000. Ulland Investment Advisors LLC increased its position in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the 3rd quarter valued at $37,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the fourth quarter worth $37,000. 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.