Piper Sandler Reiterates Overweight Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a report released on Tuesday, Benzinga reports. They presently have a $394.00 price target on the health services provider’s stock, up from their previous price target of $392.00. Piper Sandler’s price objective would suggest a potential upside of 25.49% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday. Barclays boosted their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective 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. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Performance

NYSE CI traded up $1.66 on Tuesday, hitting $313.98. 281,959 shares of the company traded hands, compared to its average volume of 1,521,676. The business’s 50 day moving average price is $344.94 and its 200-day moving average price is $341.23. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a market capitalization of $87.33 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 0.96 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. Equities analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CI. Cedar Wealth Management LLC purchased a new position in The Cigna Group in the first quarter worth approximately $29,000. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC lifted its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group in the second quarter worth approximately $66,000. Institutional investors and hedge funds 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.