Oppenheimer Increases The Cigna Group (NYSE:CI) Price Target to $400.00

The Cigna Group (NYSE:CI) had its price objective lifted by research analysts at Oppenheimer from $370.00 to $400.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the health services provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 17.13% from the company’s current price.

CI has been the subject of a number of other reports. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Barclays assumed coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Wells Fargo & Company increased their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Morgan Stanley reiterated an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Stock Performance

CI opened at $341.50 on Friday. The business has a 50 day moving average price of $350.77 and a two-hundred day moving average price of $319.59. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.67. The company has a market capitalization of $99.84 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.05 and a beta of 0.57. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 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 firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the previous year, the business earned $5.41 earnings per share. The Cigna Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts predict that The Cigna Group will post 28.45 EPS for the current fiscal year.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock valued at $39,296,330 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Roman Butler Fullerton & Co. lifted its holdings in The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after purchasing an additional 3,539 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $4,377,000. Sapient Capital LLC bought a new stake in The Cigna Group during the 4th quarter worth approximately $2,811,000. Allspring Global Investments Holdings LLC grew its position in The Cigna Group by 29.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after acquiring an additional 66,891 shares during the last quarter. Finally, Accurate Wealth Management LLC acquired a new stake in The Cigna Group during the 4th quarter valued at $2,244,000. Institutional investors 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.