Cigna Group (NYSE:CI) Price Target Raised to $320.00

Cigna Group (NYSE:CI) had its target price upped by equities research analysts at Barclays from $310.00 to $320.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the health services provider’s stock. Barclays‘s target price points to a potential upside of 9.20% from the stock’s previous close.

Several other research firms have also recently weighed in on CI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $340.00 price objective on shares of Cigna Group in a report on Friday. Raymond James Financial cut Cigna Group from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $350.00 to $320.00 in a research note on Monday, August 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of Cigna Group in a report on Friday, October 2nd. Evercore began coverage on Cigna Group in a report on Wednesday, September 9th. They set an “in-line” rating and a $290.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $337.00 price target on shares of Cigna Group in a research note on Thursday, October 1st. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.20.

Cigna Group Trading Down 0.2%

Shares of CI stock traded down $0.56 during mid-day trading on Monday, reaching $293.04. The stock had a trading volume of 285,889 shares, compared to its average volume of 1,668,459. The firm has a market capitalization of $77.43 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.01 and a beta of 0.25. The stock’s 50-day moving average price is $285.81 and its two-hundred day moving average price is $282.17. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.66. Cigna Group has a 52-week low of $256.52 and a 52-week high of $318.05.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, November 5th. The health services provider reported $7.98 earnings per share for the quarter, topping analysts’ consensus estimates of $7.52 by $0.46. The company had revenue of $73.79 billion during the quarter, compared to analyst estimates of $72.64 billion. Cigna Group had a net margin of 2.09% and a return on equity of 19.57%. Cigna Group’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $7.83 earnings per share. Equities analysts expect that Cigna Group will post 30.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cigna Group news, insider Everett Neville sold 617 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the transaction, the insider owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 2,677 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the transaction, the insider directly owned 25,880 shares of the company’s stock, valued at $7,236,306.80. This represents a 9.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Cigna Group by 3.7% during the 2nd quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock valued at $6,461,457,000 after acquiring an additional 840,098 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Cigna Group in the 2nd quarter valued at $1,628,918,000. Bank of America Corp DE increased its holdings in shares of Cigna Group by 8.8% in the 1st quarter. Bank of America Corp DE now owns 3,182,083 shares of the health services provider’s stock valued at $848,821,000 after acquiring an additional 256,677 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cigna Group by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,426,218 shares of the health services provider’s stock worth $647,008,000 after acquiring an additional 236,340 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Cigna Group in the 2nd quarter worth $542,779,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

About Cigna Group

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members.

Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.

The company serves customers in the United States and select international markets.