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

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

A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Wednesday, April 10th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Price Performance

Shares of CI opened at $341.50 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The company’s fifty day simple moving average is $350.77 and its 200 day simple moving average is $319.59. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $5.41 EPS. On average, research analysts forecast that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction on 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 owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on 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 owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CI. Silicon Valley Capital Partners raised its stake in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Bogart Wealth LLC increased its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in The Cigna Group in the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $29,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Company Profile

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.