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

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a research note issued on Friday, Benzinga reports. They currently have a $410.00 target price on the health services provider’s stock. Stephens’ price objective would indicate a potential upside of 29.68% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective 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 reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada decreased their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $392.29.

The Cigna Group Trading Up 0.4 %

Shares of CI traded up $1.36 during midday trading on Friday, hitting $316.17. The stock had a trading volume of 2,033,907 shares, compared to its average volume of 1,522,359. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm has a market cap of $88.39 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50 day moving average is $346.52 and its 200 day moving average is $341.77.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of The Cigna Group

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after buying an additional 867,180 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after buying an additional 150,765 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after buying an additional 405,694 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after purchasing an additional 600,215 shares in the last quarter. 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.