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

The Cigna Group (NYSE:CI - Get Free Report) had its price objective raised by equities research analysts at Piper Sandler from $348.00 to $374.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the health services provider's stock. Piper Sandler's price target indicates a potential upside of 12.05% from the stock's previous close.

CI has been the subject of a number of other research reports. Truist Financial boosted their price objective on The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a report on Friday, April 11th. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Raymond James reissued a "strong-buy" rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Barclays upped their target price on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Guggenheim reissued a "buy" rating on shares of The Cigna Group in a research report on Monday. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $378.00.

The Cigna Group Stock Performance

CI traded down $0.96 during midday trading on Monday, hitting $333.79. 607,119 shares of the company traded hands, compared to its average volume of 1,694,828. The firm has a market capitalization of $91.35 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company's 50-day moving average is $323.21 and its 200 day moving average is $309.60. The Cigna Group has a 52 week low of $262.03 and a 52 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 Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data 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 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 the consensus estimate of $60.39 billion. During the same quarter last year, the company earned $6.47 earnings per share. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value 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 $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in The Cigna Group in the fourth quarter worth $25,000. Collier Financial acquired a new position in shares of The Cigna Group during the 4th quarter valued at about $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Putney Financial Group LLC acquired a new stake in The Cigna Group in the 4th quarter worth approximately $36,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the fourth quarter worth approximately $37,000. 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.

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