Guggenheim Reaffirms "Buy" Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Guggenheim in a research note issued on Friday,Benzinga reports. They presently have a $388.00 price target on the health services provider's stock. Guggenheim's price target would indicate a potential upside of 24.73% from the stock's current price.

CI has been the subject of several other research reports. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Raymond James restated a "strong-buy" rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Stephens lowered their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Wall Street Zen raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald raised their price objective 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. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $379.33.

The Cigna Group Stock Performance

CI traded down $4.21 during trading on Friday, reaching $311.07. 455,533 shares of the company's stock were exchanged, compared to its average volume of 1,711,092. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $325.14 and a 200 day moving average price of $309.96. The company has a market capitalization of $83.10 billion, a P/E ratio of 25.41, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period last year, the company posted $6.47 EPS. The business's quarterly revenue was up 14.4% on a year-over-year basis. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction 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. This represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This trade represents a 42.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last quarter. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors have recently modified their holdings of the stock. TCTC Holdings LLC purchased a new stake in The Cigna Group in the fourth quarter valued at about $25,000. Flaharty Asset Management LLC purchased a new stake in The Cigna Group in the 1st quarter worth approximately $28,000. 1248 Management LLC purchased a new position in The Cigna Group during the first quarter worth approximately $29,000. Activest Wealth Management grew its stake in The Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after acquiring an additional 72 shares during the period. Finally, Collier Financial purchased a new stake in The Cigna Group in the 4th quarter worth $32,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

About The Cigna Group

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.