The Cigna Group (NYSE:CI – Get Free Report) had its target price raised by analysts at Bank of America from $320.00 to $350.00 in a report released on Friday, FlyOnTheWall reports. Bank of America‘s price objective would suggest a potential upside of 21.55% from the stock’s current price.
Several other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $348.00 to $310.00 in a research report on Monday, May 8th. Raymond James dropped their target price on shares of The Cigna Group from $350.00 to $310.00 in a report on Monday, May 8th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Sanford C. Bernstein lowered their target price on The Cigna Group from $367.00 to $293.00 in a report on Wednesday, April 26th. Finally, Wells Fargo & Company dropped their target price on The Cigna Group from $355.00 to $284.00 in a research report on Monday, May 8th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $334.43.
View Our Latest Stock Report on CI
The Cigna Group Stock Performance
Shares of CI stock traded up $0.30 on Friday, hitting $287.94. The company had a trading volume of 413,251 shares, compared to its average volume of 1,724,036. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $340.11. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm has a market cap of $85.19 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.65. The company has a 50-day moving average price of $275.24 and a 200-day moving average price of $275.63.
The Cigna Group (NYSE:CI – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The health services provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.98 by $0.15. The company had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $47.24 billion. The Cigna Group had a return on equity of 12.65% and a net margin of 3.69%. The Cigna Group’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.22 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 24.81 earnings per share for the current fiscal year.
Insider Transactions at The Cigna Group
In other news, EVP Everett Neville sold 13,157 shares of The Cigna Group stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $295.21, for a total transaction of $3,884,077.97. Following the completion of the sale, the executive vice president now directly owns 4,937 shares of the company’s stock, valued at approximately $1,457,451.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.
Institutional Investors Weigh In On The Cigna Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Axiom Financial Strategies LLC purchased a new stake in shares of The Cigna Group in the first quarter valued at about $212,000. Fairfield Bush & CO. purchased a new stake in shares of The Cigna Group in the first quarter valued at about $40,000. Cibc World Market Inc. raised its holdings in shares of The Cigna Group by 52.6% in the first quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock valued at $4,547,000 after buying an additional 6,538 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of The Cigna Group by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after buying an additional 566 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of The Cigna Group by 36.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after buying an additional 343 shares during the last quarter. 85.63% of the stock is 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.
Further Reading
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