The Cigna Group (NYSE:CI) Price Target Raised to $374.00

The Cigna Group (NYSE:CI - Get Free Report) had its price target boosted by analysts at Piper Sandler from $348.00 to $374.00 in a research report issued on Monday, Marketbeat.com reports. The firm currently has an "overweight" rating on the health services provider's stock. Piper Sandler's target price would indicate a potential upside of 12.05% from the stock's current price.

A number of other analysts have also commented on CI. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a research note on Thursday, February 6th. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Barclays increased their target price on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, UBS Group lowered their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $378.22.

The Cigna Group Stock Up 0.2 %

Shares of CI traded up $0.68 on Monday, hitting $333.79. 787,916 shares of the stock traded hands, compared to its average volume of 1,696,693. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a market capitalization of $89.17 billion, a PE ratio of 27.27, a P/E/G ratio of 0.98 and a beta of 0.47. The business has a 50 day simple moving average of $325.84 and a 200 day simple moving average of $310.07. 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 Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share 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 during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the previous year, the business earned $6.47 earnings per share. The company's revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Cordani sold 26,527 shares of the business'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 value of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of The Cigna Group during the fourth quarter worth $867,785,000. T. Rowe Price Investment Management Inc. bought a new position in The Cigna Group in the 4th quarter worth about $724,517,000. GAMMA Investing LLC increased its position in shares of The Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after acquiring an additional 1,771,613 shares during the period. Raymond James Financial Inc. bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $313,911,000. Finally, GQG Partners LLC boosted its holdings in shares of 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 purchasing an additional 737,099 shares during the period. 86.99% of the stock is owned by 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.