Cantor Fitzgerald Reiterates “Overweight” Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $400.00 target price on the health services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 19.92% from the stock’s previous close.

Other analysts also recently issued reports about the company. Oppenheimer boosted their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $376.20.

The Cigna Group Price Performance

CI opened at $333.56 on Wednesday. The stock has a market cap of $94.75 billion, a P/E ratio of 27.39, a P/E/G ratio of 0.99 and a beta of 0.52. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $336.33 and a 200 day simple moving average of $334.82.

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 company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.41 earnings per share. On average, research analysts expect that The Cigna Group will post 28.48 EPS for the current year.

Insider Activity

In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock valued at $7,975,726 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board boosted its stake in shares of The Cigna Group by 11.9% in the third quarter. Public Sector Pension Investment Board now owns 31,704 shares of the health services provider’s stock valued at $9,070,000 after buying an additional 3,372 shares in the last quarter. Modera Wealth Management LLC grew its holdings in The Cigna Group by 13.9% in the 3rd quarter. Modera Wealth Management LLC now owns 1,865 shares of the health services provider’s stock valued at $534,000 after buying an additional 227 shares during the period. VisionPoint Advisory Group LLC increased its stake in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $1,340,000. Finally, DNB Asset Management AS increased its holdings in shares of The Cigna Group by 11.3% during the 4th quarter. DNB Asset Management AS now owns 144,386 shares of the health services provider’s stock worth $43,236,000 after buying an additional 14,681 shares during the last quarter. 86.99% of the stock is currently 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.