The Cigna Group (NYSE:CI) Downgraded by StockNews.com

The Cigna Group (NYSE:CI – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other brokerages also recently commented on CI. Loop Capital dropped their target price on shares of The Cigna Group from $350.00 to $320.00 in a report on Monday, February 6th. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $355.00 to $284.00 in a research note on Monday, May 8th. Sanford C. Bernstein dropped their target price on shares of The Cigna Group from $367.00 to $293.00 in a research note on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on shares of The Cigna Group in a research note on Thursday, April 20th. They set a “neutral” rating and a $285.00 price target for the company. Finally, Mizuho reiterated a “buy” rating and issued a $360.00 price target on shares of The Cigna Group in a report on Thursday, March 30th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has an average rating of “Moderate Buy” and an average price target of $328.17.

The Cigna Group Price Performance

CI opened at $255.13 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 1-year low of $240.11 and a 1-year high of $340.11. The company has a 50-day moving average of $260.04 and a 200-day moving average of $293.82. The company has a market capitalization of $75.49 billion, a P/E ratio of 11.63, a PEG ratio of 0.93 and a beta of 0.62.

The Cigna Group (NYSE:CI – Get Rating) last released its earnings results on Friday, May 5th. The health services provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.23 by $0.18. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. The business had revenue of $46.52 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period in the prior year, the business earned $6.01 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts expect that The Cigna Group will post 24.8 EPS for the current fiscal year.

Insider Buying and Selling at The Cigna Group

In related news, insider Michael W. Triplett sold 1,731 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $271.67, for a total value of $470,260.77. Following the transaction, the insider now directly owns 30,235 shares of the company’s stock, valued at approximately $8,213,942.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Cigna Group news, insider Michael W. Triplett sold 1,731 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $271.67, for a total value of $470,260.77. Following the transaction, the insider now owns 30,235 shares of the company’s stock, valued at approximately $8,213,942.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Everett Neville sold 2,982 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $271.67, for a total value of $810,119.94. Following the transaction, the executive vice president now directly owns 5,403 shares in the company, valued at approximately $1,467,833.01. The disclosure for this sale can be found here. Insiders sold a total of 28,509 shares of company stock worth $8,200,219 in the last three months. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of The Cigna Group

Institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC lifted its position in The Cigna Group by 154,255.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after buying an additional 11,947,096 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of The Cigna Group by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock valued at $862,423,000 after purchasing an additional 268,793 shares during the last quarter. Norges Bank purchased a new stake in The Cigna Group during the 4th quarter valued at approximately $963,542,000. Nordea Investment Management AB raised its stake in The Cigna Group by 18.9% during the 1st quarter. Nordea Investment Management AB now owns 2,490,969 shares of the health services provider’s stock valued at $635,446,000 after acquiring an additional 396,176 shares during the last quarter. Finally, Putnam Investments LLC increased its position in The Cigna Group by 6.2% during the 4th quarter. Putnam Investments LLC now owns 2,122,253 shares of the health services provider’s stock worth $703,187,000 after purchasing an additional 124,453 shares during the period. 87.61% of the stock is owned by institutional investors and hedge funds.

About The Cigna Group

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.