The Cigna Group (NYSE:CI) Given “Overweight” Rating at Cantor Fitzgerald

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued on Wednesday, Benzinga reports. They presently have a $400.00 price target on the health services provider’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 26.36% from the company’s current price.

Several other research firms have also recently issued reports on CI. Barclays boosted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Performance

NYSE CI traded down $0.90 on Wednesday, reaching $316.56. 525,283 shares of the company’s stock traded hands, compared to its average volume of 1,497,390. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $89.93 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 1.05 and a beta of 0.50. The stock has a 50 day moving average price of $350.20 and a 200-day moving average price of $343.58.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.13 EPS. Equities research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of The Cigna Group

Several hedge funds have recently made changes to their positions in the company. Harvey Investment Co. LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $206,000. Global Assets Advisory LLC purchased a new stake in The Cigna Group in the 3rd quarter valued at about $209,000. Brighton Jones LLC boosted its stake in The Cigna Group by 6.2% during the third quarter. Brighton Jones LLC now owns 3,418 shares of the health services provider’s stock worth $1,184,000 after buying an additional 200 shares during the period. YHB Investment Advisors Inc. increased its position in shares of The Cigna Group by 18.7% during the third quarter. YHB Investment Advisors Inc. now owns 2,303 shares of the health services provider’s stock valued at $798,000 after acquiring an additional 363 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares during the period. Hedge funds and other 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.