Cantor Fitzgerald Reaffirms Overweight Rating for The Cigna Group (NYSE:CI)

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $400.00 price objective on the health services provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 8.97% from the company’s previous close.

Several other equities research analysts also recently weighed in on CI. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Finally, Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $387.00.

The Cigna Group Stock Performance

Shares of CI traded up $2.37 during midday trading on Monday, reaching $367.09. 167,807 shares of the stock were exchanged, compared to its average volume of 1,515,878. The company has a market capitalization of $102.62 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The business’s 50-day moving average price is $344.18 and its 200 day moving average price is $344.29.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.13 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Brian C. Evanko sold 4,795 shares of the 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 owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Silicon Valley Capital Partners raised its stake in shares of 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 valued at $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC purchased a new position in The Cigna Group in the 1st quarter valued at about $29,000. 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 valued at $30,000 after acquiring an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the second quarter worth about $33,000. Finally, Pineridge Advisors LLC acquired a new stake in The Cigna Group during the 4th quarter valued at approximately $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

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.