Robert W. Baird Cuts The Cigna Group (NYSE:CI) Price Target to $362.00

The Cigna Group (NYSE:CI - Get Free Report) had its target price dropped by equities research analysts at Robert W. Baird from $388.00 to $362.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the health services provider's stock. Robert W. Baird's price target suggests a potential upside of 9.71% from the company's current price.

Several other analysts have also issued reports on CI. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Barclays cut their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Piper Sandler restated an "overweight" rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Truist Financial upped their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $373.56.

The Cigna Group Stock Performance

NYSE:CI traded up $0.53 on Tuesday, hitting $329.97. The stock had a trading volume of 2,847,268 shares, compared to its average volume of 1,694,350. The business's 50-day simple moving average is $315.87 and its two-hundred day simple moving average is $310.74. The stock has a market cap of $90.30 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company posted $6.79 earnings per share. As a group, research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

Insider Activity

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company's stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.

Institutional Trading of The Cigna Group

Large investors have recently made changes to their positions in the business. TCTC Holdings LLC purchased a new position in The Cigna Group during the fourth quarter worth approximately $25,000. Collier Financial purchased a new stake in The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth approximately $34,000. Putney Financial Group LLC acquired a new position in The Cigna Group in the 4th quarter valued at about $36,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the fourth quarter worth $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.