Wolfe Research Lowers Cigna Group (NYSE:CI) Price Target to $325.00

Key Points

• Wolfe Research has lowered its price target for Cigna Group (NYSE:CI) from $345.00 to $325.00, while maintaining an "outperform" rating, which suggests a potential upside of 9.85% based on current prices.
• Other analysts have varying price targets; for example, Cantor Fitzgerald maintains an "overweight" rating with a target of $365.00 and Wells Fargo raised its target from $340.00 to $354.00.
• Cigna Group reported earnings per share of $7.20 for the last quarter, exceeding expectations and marking an 11% increase in revenue compared to the previous year.

Cigna Group (NYSE:CI - Get Free Report) had its price objective lowered by stock analysts at Wolfe Research from $345.00 to $325.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has an "outperform" rating on the health services provider's stock. Wolfe Research's target price would indicate a potential upside of 9.85% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a research report on Tuesday, August 26th. The Goldman Sachs Group assumed coverage on shares of Cigna Group in a research report on Tuesday. They set a "buy" rating and a $370.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Wells Fargo & Company increased their price target on shares of Cigna Group from $340.00 to $354.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Finally, Truist Financial set a $375.00 price target on shares of Cigna Group in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $369.89.

Cigna Group Price Performance

CI stock opened at $295.86 on Wednesday. The firm has a 50 day moving average of $295.86 and a 200-day moving average of $308.87. Cigna Group has a 12-month low of $256.89 and a 12-month high of $358.88. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $78.97 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.87 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the previous year, the firm posted $6.72 EPS. The company's quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the sale, the insider directly owned 51,182 shares of the company's stock, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Cigna Group by 1.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 11,778,472 shares of the health services provider's stock worth $3,893,727,000 after buying an additional 123,479 shares during the last quarter. Dodge & Cox grew its stake in Cigna Group by 0.7% during the second quarter. Dodge & Cox now owns 8,950,610 shares of the health services provider's stock worth $2,958,893,000 after buying an additional 60,877 shares during the last quarter. GQG Partners LLC grew its stake in Cigna Group by 21.5% during the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after buying an additional 865,092 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider's stock worth $1,148,859,000 after buying an additional 3,471,249 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

About 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.