Cigna Group (NYSE:CI) Price Target Raised to $304.00

Key Points

• Jefferies raised Cigna’s price target from $288 to $304 but kept a Hold rating, implying just 2.54% upside from the stock’s then-current price. Analysts’ consensus target was $340.15, with a Moderate Buy consensus rating.
• Cigna beat quarterly expectations, reporting adjusted earnings of $7.98 per share versus $7.52 expected and revenue of $73.79 billion versus $72.64 billion; revenue grew 5.6% year over year.
• Shares fell 1.7% on Thursday to $296.47.

Cigna Group (NYSE:CI - Get Free Report) had its price objective hoisted by analysts at Jefferies Financial Group from $288.00 to $304.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a "hold" rating on the health services provider's stock. Jefferies Financial Group's target price points to a potential upside of 2.54% from the company's current price.

A number of other equities research analysts have also recently weighed in on CI. Robert W. Baird set a $362.00 price target on shares of Cigna Group in a research report on Friday, July 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $340.00 price objective on shares of Cigna Group in a report on Friday, November 6th. UBS Group reaffirmed a "buy" rating on shares of Cigna Group in a research report on Thursday, October 1st. Barclays lifted their target price on shares of Cigna Group from $310.00 to $320.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Wall Street Zen raised Cigna Group from a "hold" rating to a "buy" rating in a research report on Sunday. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $340.15.

Cigna Group Trading Down 1.7%

Shares of Cigna Group stock traded down $4.98 during trading hours on Thursday, hitting $296.47. The company's stock had a trading volume of 649,553 shares, compared to its average volume of 1,669,527. The stock has a market cap of $78.12 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.13 and a beta of 0.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.74 and a current ratio of 0.74. Cigna Group has a twelve month low of $257.85 and a twelve month high of $318.05. The firm has a fifty day moving average of $287.03 and a 200-day moving average of $282.49.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The health services provider reported $7.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.52 by $0.46. The firm had revenue of $73.79 billion during the quarter, compared to the consensus estimate of $72.64 billion. Cigna Group had a return on equity of 19.57% and a net margin of 2.09%. The company's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $7.83 EPS. Research analysts forecast that Cigna Group will post 30.72 EPS for the current year.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole Jones sold 2,677 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total value of $748,515.97. Following the sale, the insider owned 25,880 shares of the company's stock, valued at $7,236,306.80. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of Cigna Group stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the completion of the transaction, the insider owned 5,053 shares of the company's stock, valued at $1,435,304.65. The trade was a 10.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Institutional Trading of Cigna Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osbon Capital Management LLC acquired a new position in Cigna Group in the second quarter valued at approximately $26,000. Putney Financial Group LLC acquired a new position in Cigna Group in the third quarter valued at $27,000. Johnson Financial Group Inc. acquired a new position in Cigna Group in the second quarter valued at $29,000. Fiduciary Financial Advisors acquired a new position in Cigna Group in the second quarter valued at $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Cigna Group during the second quarter worth about $34,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Company Profile

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members. Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.

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