The Cigna Group (NYSE:CI) Receives New Coverage from Analysts at Piper Sandler

Analysts at Piper Sandler initiated coverage on shares of The Cigna Group (NYSE:CI) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $400.00 price target on the health services provider’s stock. Piper Sandler’s price target points to a potential upside of 18.06% from the company’s previous close.

Several other equities research analysts also recently commented on CI. Barclays began coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Robert W. Baird initiated coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Morgan Stanley reissued an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Oppenheimer lifted their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Trading Down 1.3 %

Shares of The Cigna Group stock opened at $338.80 on Wednesday. The firm has a market capitalization of $96.24 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.05 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average is $342.12 and its 200 day moving average is $332.66. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the prior year, the business earned $5.41 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts forecast that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the transaction, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Insiders sold 18,193 shares of company stock valued at $6,321,404 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds have recently bought and sold shares of CI. Silicon Valley Capital Partners boosted its holdings in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $29,000. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group in the first quarter valued at approximately $29,000. VisionPoint Advisory Group LLC lifted its holdings in The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the period. Finally, Raleigh Capital Management Inc. boosted its position in The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other 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.