Cantor Fitzgerald Issues Positive Forecast for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI) had its target price hoisted by research analysts at Cantor Fitzgerald from $350.00 to $365.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 13.57% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley dropped their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, Oppenheimer reduced their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Stock Up 0.2 %

The Cigna Group stock traded up $0.57 during trading hours on Thursday, hitting $321.40. 106,487 shares of the stock traded hands, compared to its average volume of 1,550,651. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a market cap of $87.96 billion, a PE ratio of 26.27, a PEG ratio of 0.98 and a beta of 0.53. The firm’s 50-day moving average price is $299.23 and its two-hundred day moving average price is $315.68. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the business earned $6.79 EPS. On average, research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds and other institutional investors have recently made changes to their positions in CI. Sterling Financial Group Inc. acquired a new stake in The Cigna Group during the fourth quarter worth about $4,367,000. Principal Financial Group Inc. raised its holdings in shares of The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after buying an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after acquiring an additional 858 shares in the last quarter. Valley Wealth Managers Inc. grew its position in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after acquiring an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its stake in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after purchasing an additional 3,466 shares during the period. Hedge funds and other 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.