The Cigna Group (NYSE:CI) Stock Rating Reaffirmed by Royal Bank of Canada

The Cigna Group (NYSE:CI)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued on Monday, Benzinga reports. They presently have a $384.00 price objective on the health services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 7.23% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Monday, August 19th. Barclays lifted their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $387.00.

The Cigna Group Price Performance

Shares of CI stock opened at $358.11 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $100.11 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.08 and a beta of 0.50. The firm’s 50 day moving average is $341.89 and its 200-day moving average is $343.82. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.64.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $6.13 EPS. Sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insider Transactions at The Cigna Group

In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elder Granger sold 547 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 8,033 shares of company stock valued at $2,757,740 over the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in The Cigna Group during the second quarter worth about $13,895,000. Brown Financial Advisors acquired a new stake in shares of The Cigna Group in the second quarter valued at approximately $1,700,000. Kestra Investment Management LLC bought a new position in shares of The Cigna Group during the 2nd quarter worth approximately $439,000. Clearbridge Investments LLC increased its holdings in shares of The Cigna Group by 154.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock worth $1,165,000 after acquiring an additional 2,142 shares during the last quarter. Finally, KPP Advisory Services LLC raised its stake in The Cigna Group by 5.0% in the 2nd quarter. KPP Advisory Services LLC now owns 1,176 shares of the health services provider’s stock valued at $389,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.