The Cigna Group (NYSE:CI) Upgraded at StockNews.com

The Cigna Group (NYSE:CI) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

A number of other research firms have also issued reports on CI. Wells Fargo & Company reduced their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Barclays lowered their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Stephens reduced their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $374.44.

The Cigna Group Stock Up 2.1 %

Shares of NYSE CI opened at $320.42 on Tuesday. The company has a market capitalization of $87.69 billion, a P/E ratio of 26.18, a P/E/G ratio of 0.98 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a 50 day simple moving average of $310.59 and a 200-day simple moving average of $311.62. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the firm posted $6.79 EPS. On average, equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Cigna Group

Hedge funds have recently added to or reduced their stakes in the stock. Garden State Investment Advisory Services LLC bought a new position in The Cigna Group during the 3rd quarter worth $444,000. MML Investors Services LLC increased its stake in The Cigna Group by 6.3% in the third quarter. MML Investors Services LLC now owns 29,633 shares of the health services provider’s stock valued at $10,266,000 after purchasing an additional 1,760 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of The Cigna Group by 6.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 105,479 shares of the health services provider’s stock valued at $36,542,000 after purchasing an additional 6,585 shares during the period. Vestcor Inc boosted its position in shares of The Cigna Group by 4.7% during the 3rd quarter. Vestcor Inc now owns 21,288 shares of the health services provider’s stock worth $7,375,000 after purchasing an additional 961 shares in the last quarter. Finally, Brophy Wealth Management LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at about $869,000. 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.