The Cigna Group (NYSE:CI) Price Target Increased to $400.00 by Analysts at Cantor Fitzgerald

The Cigna Group (NYSE:CI) had its price objective increased by research analysts at Cantor Fitzgerald from $384.00 to $400.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 17.13% from the company’s previous close. Cantor Fitzgerald also issued estimates for The Cigna Group’s FY2024 earnings at $28.45 EPS.

A number of other analysts have also issued reports on CI. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Mizuho upped their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Oppenheimer lifted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Stock Down 0.9 %

Shares of NYSE CI opened at $341.50 on Friday. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The firm has a 50-day simple moving average of $350.77 and a two-hundred day simple moving average of $319.59. The company has a market cap of $99.84 billion, a P/E ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the prior year, the business posted $5.41 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts anticipate that The Cigna Group will post 28.45 earnings per share for the current year.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 over the last quarter. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Institutional investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. lifted its holdings in shares of The Cigna Group by 2.3% during the third quarter. Pinnacle Associates Ltd. now owns 3,848 shares of the health services provider’s stock worth $1,101,000 after purchasing an additional 88 shares during the period. Dakota Wealth Management boosted its holdings in shares of The Cigna Group by 9.7% in the 3rd quarter. Dakota Wealth Management now owns 1,005 shares of the health services provider’s stock valued at $288,000 after acquiring an additional 89 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of The Cigna Group by 26.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,762 shares of the health services provider’s stock valued at $1,935,000 after acquiring an additional 1,407 shares during the last quarter. Stratos Wealth Advisors LLC increased its stake in shares of The Cigna Group by 59.8% in the third quarter. Stratos Wealth Advisors LLC now owns 2,406 shares of the health services provider’s stock worth $688,000 after acquiring an additional 900 shares during the period. Finally, E&G Advisors LP lifted its position in The Cigna Group by 1.8% during the third quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after purchasing an additional 37 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.