Barclays Issues Positive Forecast for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI - Get Free Report) had its price target increased by research analysts at Barclays from $382.00 to $385.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the health services provider's stock. Barclays's target price suggests a potential upside of 23.49% from the stock's previous close.

A number of other brokerages have also issued reports on CI. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Piper Sandler raised their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Morgan Stanley raised their target price on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, The Cigna Group has an average rating of "Buy" and an average price target of $380.39.

The Cigna Group Stock Performance

NYSE:CI traded down $3.22 during mid-day trading on Monday, reaching $311.77. The stock had a trading volume of 1,321,063 shares, compared to its average volume of 1,694,735. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 $83.29 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 0.98 and a beta of 0.47. The business has a 50 day simple moving average of $324.70 and a 200 day simple moving average of $309.28.

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

Insider Buying and Selling at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. This trade represents a 42.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On The Cigna Group

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in The Cigna Group during the 4th quarter valued at about $867,785,000. T. Rowe Price Investment Management Inc. purchased a new position in The Cigna Group during the 4th quarter valued at about $724,517,000. Nuveen LLC purchased a new position in The Cigna Group during the 1st quarter valued at about $727,905,000. GAMMA Investing LLC boosted its position in shares of The Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after acquiring an additional 1,771,613 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of The Cigna Group during the 4th quarter valued at about $313,911,000. 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.