Cantor Fitzgerald Reiterates Overweight Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They currently have a $400.00 price objective on the health services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 25.69% from the company’s current price.

Several other research analysts have also recently issued reports on CI. Piper Sandler assumed coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Barclays raised their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. Finally, Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Up 0.2 %

Shares of The Cigna Group stock opened at $318.24 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm’s 50-day moving average is $349.85 and its two-hundred day moving average is $343.40. The stock has a market cap of $90.40 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.05 and a beta of 0.50.

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

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in The Cigna Group by 240.8% during the 4th quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock valued at $4,993,000 after acquiring an additional 11,782 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in The Cigna Group by 13.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,290 shares of the health services provider’s stock worth $1,558,000 after buying an additional 501 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of The Cigna Group during the 1st quarter worth $206,000. G&S Capital LLC acquired a new position in shares of The Cigna Group during the 1st quarter valued at about $240,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of The Cigna Group by 7.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,484 shares of the health services provider’s stock valued at $539,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds 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.