The Cigna Group (NYSE:CI – Get Free Report) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.
A number of other equities research analysts have also recently issued reports on CI. Bank of America raised shares of The Cigna Group from a “neutral” rating to a “buy” rating and set a $320.00 target price on the stock in a report on Tuesday, June 6th. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $355.00 to $284.00 in a report on Monday, May 8th. Raymond James decreased their price target on shares of The Cigna Group from $350.00 to $310.00 in a report on Monday, May 8th. JPMorgan Chase & Co. decreased their price target on shares of The Cigna Group from $356.00 to $341.00 in a report on Friday, July 7th. Finally, Sanford C. Bernstein decreased their price target on shares of The Cigna Group from $367.00 to $293.00 in a report on Wednesday, April 26th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has an average rating of “Moderate Buy” and a consensus price target of $333.00.
The Cigna Group Stock Performance
CI stock traded down $0.49 during midday trading on Friday, reaching $293.73. 1,497,103 shares of the company’s stock traded hands, compared to its average volume of 1,743,012. The company has a 50-day moving average price of $268.29 and a two-hundred day moving average price of $276.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $340.11. The firm has a market capitalization of $86.91 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.02 and a beta of 0.65.
The Cigna Group (NYSE:CI – Get Free Report) last issued its earnings results on Friday, May 5th. The health services provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.18. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. The business had revenue of $46.52 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the firm posted $6.01 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 24.81 EPS for the current year.
Insider Buying and Selling at The Cigna Group
In other The Cigna Group news, EVP Everett Neville sold 466 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $277.61, for a total transaction of $129,366.26. Following the completion of the sale, the executive vice president now directly owns 4,937 shares in the company, valued at $1,370,560.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Everett Neville sold 466 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $277.61, for a total transaction of $129,366.26. Following the completion of the sale, the executive vice president now directly owns 4,937 shares in the company, valued at $1,370,560.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Donna F. Zarcone sold 757 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $253.29, for a total transaction of $191,740.53. Following the sale, the director now owns 25,558 shares of the company’s stock, valued at $6,473,585.82. The disclosure for this sale can be found here. Insiders sold a total of 14,380 shares of company stock worth $4,205,185 over the last three months. Company insiders own 0.60% of the company’s stock.
Institutional Trading of The Cigna Group
A number of institutional investors have recently modified their holdings of CI. Archer Investment Corp raised its stake in The Cigna Group by 469.2% in the fourth quarter. Archer Investment Corp now owns 74 shares of the health services provider’s stock worth $25,000 after buying an additional 61 shares in the last quarter. Pacifica Partners Inc. raised its stake in The Cigna Group by 95.2% in the fourth quarter. Pacifica Partners Inc. now owns 82 shares of the health services provider’s stock worth $27,000 after buying an additional 40 shares in the last quarter. Glass Jacobson Investment Advisors llc bought a new position in The Cigna Group in the fourth quarter worth about $30,000. Kalos Management Inc. bought a new position in The Cigna Group in the first quarter worth about $27,000. Finally, MBM Wealth Consultants LLC bought a new position in The Cigna Group in the fourth quarter worth about $36,000. 85.63% of the stock is currently owned by hedge funds and other 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.