The Cigna Group (NYSE:CI) Receives “Overweight” Rating from Piper Sandler

The Cigna Group (NYSE:CI)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a report issued on Monday,Benzinga reports. They currently have a $348.00 price target on the health services provider’s stock, down from their prior price target of $394.00. Piper Sandler’s target price points to a potential upside of 17.96% from the stock’s current price.

Several other analysts also recently issued reports on CI. Barclays cut their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday. Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Royal Bank of Canada lowered their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $377.20.

The Cigna Group Stock Performance

Shares of CI traded up $0.81 during mid-day trading on Monday, reaching $295.02. 582,613 shares of the company’s stock traded hands, compared to its average volume of 1,808,816. The business’s 50-day moving average price is $294.40 and its 200-day moving average price is $324.18. The stock has a market capitalization of $82.06 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the business posted $6.79 EPS. Equities analysts predict that The Cigna Group will post 29.66 earnings per share for the current year.

Institutional Trading of The Cigna Group

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after purchasing an additional 130,048 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after purchasing an additional 22,408 shares during the last quarter. Parnassus Investments LLC boosted its stake in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in The Cigna Group by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after acquiring an additional 44,810 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

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.