The Cigna Group's (CI) "Buy" Rating Reaffirmed at Guggenheim

The Cigna Group (NYSE:CI - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Guggenheim in a research report issued on Monday, MarketBeat reports. They currently have a $388.00 target price on the health services provider's stock, up from their prior target price of $384.00. Guggenheim's price target suggests a potential upside of 16.24% from the stock's previous close.

A number of other research analysts also recently commented on CI. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Raymond James restated a "strong-buy" rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Finally, Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $378.22.

The Cigna Group Price Performance

Shares of NYSE:CI traded up $0.68 during midday trading on Monday, reaching $333.79. 787,916 shares of the company were exchanged, compared to its average volume of 1,696,608. The stock has a market cap of $89.17 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The business's fifty day moving average is $325.84 and its two-hundred day moving average is $310.12. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the firm posted $6.47 earnings per share. The business's revenue was up 14.4% compared to the same quarter last year. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of The Cigna Group

A number of institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its position in shares of The Cigna Group by 0.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock valued at $3,834,493,000 after acquiring an additional 98,715 shares during the period. Sanders Capital LLC raised its stake in shares of The Cigna Group by 2.0% in the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock worth $2,224,296,000 after purchasing an additional 154,420 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of The Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock worth $1,640,878,000 after purchasing an additional 101,737 shares during the period. GQG Partners LLC boosted its position in The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after buying an additional 737,099 shares during the last quarter. Finally, Norges Bank acquired a new position in The Cigna Group in the 4th quarter worth approximately $867,785,000. 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.