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

by · The Cerbat Gem

The Cigna Group (NYSE:CI – Get Free Report) had its price target increased by stock analysts at Barclays from $339.00 to $382.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Barclays‘s price target indicates a potential upside of 14.21% from the company’s previous close.

CI has been the topic of a number of other research reports. Wells Fargo & Company lowered their price objective 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. UBS Group cut their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Oppenheimer lowered their price objective 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. Finally, Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $375.94.

Check Out Our Latest Report on The Cigna Group

The Cigna Group Stock Down 0.2 %

The Cigna Group stock opened at $334.49 on Monday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock’s fifty day moving average is $323.21 and its two-hundred day moving average is $309.60. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market capitalization of $91.54 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI – Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the business posted $6.47 earnings per share. The Cigna Group’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new position in The Cigna Group during the fourth quarter worth $25,000. Collier Financial purchased a new position in The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at about $34,000. Putney Financial Group LLC bought a new stake in The Cigna Group in the 4th quarter worth about $36,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

About The Cigna Group

(Get Free Report)

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.

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