Jefferies Financial Group Boosts The Cigna Group (NYSE:CI) Price Target to $422.00

The Cigna Group (NYSE:CI) had its price objective lifted by equities researchers at Jefferies Financial Group from $402.00 to $422.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the health services provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 17.37% from the stock’s previous close.

A number of other analysts have also recently weighed in on CI. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday. Barclays upped their price target 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. 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. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Stock Down 2.0 %

NYSE:CI traded down $7.31 during trading hours on Tuesday, reaching $359.54. The company’s stock had a trading volume of 169,209 shares, compared to its average volume of 1,510,956. 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 company has a market cap of $102.14 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The business’s 50-day moving average is $345.05 and its 200-day moving average is $344.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the prior year, the company posted $6.13 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. Equities research analysts predict that The Cigna Group will post 28.48 EPS for the current year.

Insider Buying and Selling at The Cigna Group

In other news, insider Brian C. Evanko sold 4,795 shares of the business’s 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 sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction 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 SEC, which is accessible through this link. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners raised its stake in shares of The Cigna Group by 100.0% in 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 during the last quarter. Cedar Wealth Management LLC bought a new position in The Cigna Group in the 1st quarter valued at $29,000. Raleigh Capital Management Inc. boosted its position in The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new position in The Cigna Group in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.