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

The Cigna Group (NYSE:CI - Get Free Report) had its price target lifted by analysts at Morgan Stanley from $379.00 to $390.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the health services provider's stock. Morgan Stanley's price objective indicates a potential upside of 16.04% from the company's previous close.

Several other equities analysts also recently weighed in on the company. Guggenheim restated a "buy" rating on shares of The Cigna Group in a research report on Monday. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a report on Thursday, February 6th. Cantor Fitzgerald lifted their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. UBS Group reduced their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Two investment 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 stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $376.56.

The Cigna Group Stock Performance

Shares of CI traded up $1.35 during mid-day trading on Monday, reaching $336.10. The company had a trading volume of 125,660 shares, compared to its average volume of 1,692,922. The stock has a 50 day moving average of $323.21 and a two-hundred day moving average of $309.60. 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 stock has a market capitalization of $91.98 billion, a P/E ratio of 27.46, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its 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 firm had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company's quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm earned $6.47 EPS. On average, analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last quarter. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On The Cigna Group

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

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.

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