The Cigna Group (NYSE:CI) Lowered to Buy at StockNews.com

StockNews.com cut shares of The Cigna Group (NYSE:CI) from a strong-buy rating to a buy rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $432.00 to $435.00 and gave the company an overweight rating in a research report on Thursday, May 30th. Baird R W raised shares of The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Cantor Fitzgerald reissued an overweight rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, July 10th. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an overweight rating and a $400.00 price objective on the stock. Finally, Robert W. Baird began coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an outperform rating and a $388.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $376.20.

The Cigna Group Price Performance

Shares of NYSE CI opened at $336.17 on Friday. 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 company has a market capitalization of $95.50 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 1.02 and a beta of 0.52. The company has a 50 day simple moving average of $334.86 and a two-hundred day simple moving average of $337.21. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business earned $5.41 EPS. Analysts expect that The Cigna Group will post 28.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

A number of large investors have recently modified their holdings of CI. Silicon Valley Capital Partners raised its position 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 purchasing an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in The Cigna Group in the first quarter worth about $29,000. Fortitude Family Office LLC bought a new position in The Cigna Group during the 4th quarter worth about $29,000. Raleigh Capital Management Inc. grew its holdings in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in The Cigna Group during the 2nd quarter valued at about $33,000. Hedge funds and other 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.