The Cigna Group (NYSE:CI) Stock Rating Lowered by StockNews.com

The Cigna Group (NYSE:CI) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other analysts have also recently issued reports on the stock. Robert W. Baird started coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, July 10th. Oppenheimer increased their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Down 1.4 %

NYSE:CI opened at $335.84 on Friday. The company has a market cap of $95.40 billion, a PE ratio of 27.57, a PEG ratio of 1.02 and a beta of 0.52. The stock has a 50-day simple moving average of $335.33 and a 200 day simple moving average of $336.84. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the previous year, the firm posted $5.41 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 28.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds have recently modified their holdings of the company. Seizert Capital Partners LLC lifted its position in shares of The Cigna Group by 195.8% during the 4th quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock valued at $9,627,000 after buying an additional 21,280 shares during the last quarter. Roman Butler Fullerton & Co. increased its stake in shares of The Cigna Group by 61.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after purchasing an additional 3,539 shares in the last quarter. TFO Wealth Partners LLC raised its position in shares of The Cigna Group by 98,980.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock valued at $1,497,000 after purchasing an additional 4,949 shares during the period. Ellsworth Advisors LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $4,377,000. Finally, Sapient Capital LLC bought a new position in The Cigna Group in the 4th quarter worth approximately $2,811,000. 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.