Robert W. Baird Cuts The Cigna Group (NYSE:CI) Price Target to $362.00

The Cigna Group (NYSE:CI) had its target price cut by analysts at Robert W. Baird from $388.00 to $362.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the health services provider’s stock. Robert W. Baird’s price target suggests a potential upside of 9.86% from the stock’s previous close.

CI has been the subject of several other research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Barclays dropped their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley lowered their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $373.56.

The Cigna Group Price Performance

CI stock opened at $329.50 on Tuesday. The stock has a 50-day moving average price of $314.43 and a two-hundred day moving average price of $311.19. The company has a market cap of $90.18 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. 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 has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 quarter in the previous year, the business posted $6.79 earnings per share. As a group, research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CI. TCTC Holdings LLC acquired a new stake in The Cigna Group in the fourth quarter worth about $25,000. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Putney Financial Group LLC bought a new stake in The Cigna Group during the fourth quarter worth approximately $36,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter worth approximately $37,000. 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.