Piper Sandler Reiterates Overweight Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Piper Sandler in a research report issued on Tuesday, Benzinga reports. They presently have a $394.00 target price on the health services provider's stock, up from their previous target price of $392.00. Piper Sandler's price objective would indicate a potential upside of 23.75% from the company's previous close.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Stephens restated an "overweight" rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday. Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Barclays boosted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $394.64.

The Cigna Group Stock Up 1.9 %

NYSE:CI traded up $6.07 during trading hours on Tuesday, hitting $318.39. The stock had a trading volume of 2,039,256 shares, compared to its average volume of 1,529,887. The company has a market cap of $88.56 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The business has a 50 day simple moving average of $344.94 and a two-hundred day simple moving average of $341.23. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the business earned $6.77 EPS. The business's revenue was up 29.8% on a year-over-year basis. Analysts predict that The Cigna Group will post 28.48 EPS for the current year.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Institutional Trading of The Cigna Group

Several institutional investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC increased its holdings in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider's stock worth $1,185,000 after buying an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in The Cigna Group by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider's stock valued at $729,000 after purchasing an additional 31 shares during the last quarter. IFG Advisors LLC grew its holdings in shares of The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider's stock worth $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider's stock valued at $240,000 after buying an additional 31 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider's stock valued at $371,000 after buying an additional 32 shares during the last quarter. 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.