The Cigna Group (NYSE:CI) Price Target Raised to $405.00 at Barclays

The Cigna Group (NYSE:CI) had its price objective lifted by equities researchers at Barclays from $393.00 to $405.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Barclays‘s price objective would suggest a potential upside of 25.64% from the stock’s previous close.

A number of other brokerages have also recently commented on CI. Oppenheimer raised their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, July 10th. Robert W. Baird initiated coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $377.00.

The Cigna Group Stock Performance

NYSE CI traded down $10.24 during midday trading on Friday, hitting $322.36. The company had a trading volume of 467,439 shares, compared to its average volume of 1,554,100. The firm has a fifty day simple moving average of $335.70 and a two-hundred day simple moving average of $338.51. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a market cap of $91.57 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 1.06 and a beta of 0.52.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the business earned $6.13 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities analysts forecast that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

Insider Activity

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,988 shares of company stock valued at $7,975,726. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortem Financial Group LLC increased its holdings in The Cigna Group by 1.6% in the second quarter. Fortem Financial Group LLC now owns 2,867 shares of the health services provider’s stock valued at $948,000 after purchasing an additional 46 shares during the last quarter. Allegheny Financial Group LTD grew its stake in The Cigna Group by 4.5% in the second quarter. Allegheny Financial Group LTD now owns 3,743 shares of the health services provider’s stock valued at $1,237,000 after acquiring an additional 160 shares during the period. TIAA Trust National Association grew its stake in The Cigna Group by 1.6% in the second quarter. TIAA Trust National Association now owns 13,881 shares of the health services provider’s stock valued at $4,589,000 after acquiring an additional 225 shares during the period. Harfst & Associates Inc. grew its stake in The Cigna Group by 3.8% in the second quarter. Harfst & Associates Inc. now owns 4,506 shares of the health services provider’s stock valued at $1,490,000 after acquiring an additional 164 shares during the period. Finally, Verus Capital Partners LLC acquired a new position in The Cigna Group in the second quarter valued at about $213,000. 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.