The Cigna Group (NYSE:CI) PT Raised to $400.00 at Cantor Fitzgerald

The Cigna Group (NYSE:CI) had its target price increased by equities research analysts at Cantor Fitzgerald from $384.00 to $400.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price target indicates 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.

Several other research analysts also recently weighed in on the stock. Oppenheimer upped their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Wells Fargo & Company boosted their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Two investment 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 company’s stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $366.14.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $341.50 on Friday. The business has a 50-day simple moving average of $350.77 and a 200 day simple moving average of $319.59. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. 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 firm has a market capitalization 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 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 during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter last year, the firm posted $5.41 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts anticipate that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CI. Silicon Valley Capital Partners grew its holdings in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the period. OFI Invest Asset Management purchased a new position in The Cigna Group during the third quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new position in The Cigna Group during the fourth quarter valued at approximately $29,000. Finally, VisionPoint Advisory Group LLC increased its holdings in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the period. 86.99% of the stock is owned by 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.