The Cigna Group (NYSE:CI) Given Overweight Rating at Piper Sandler

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research report issued on Tuesday, Benzinga reports. They currently have a $394.00 price objective on the health services provider’s stock, up from their prior price objective of $392.00. Piper Sandler’s target price points to a potential upside of 25.04% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada reduced their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $315.09 on Tuesday. The company’s fifty day moving average is $343.37 and its two-hundred day moving average is $340.80. The company has a market cap of $87.64 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned $6.77 earnings per share. Equities analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CI. Checchi Capital Advisers LLC grew its stake in shares of The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after acquiring an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares during the last quarter. IFG Advisors LLC boosted its holdings in The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares during the period. McClarren Financial Advisors Inc. grew its position in The Cigna Group by 4.7% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after purchasing an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in shares of The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after purchasing an additional 32 shares during the period. 86.99% of the stock is owned by institutional investors.

About The Cigna Group

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.