The Cigna Group (NYSE:CI – Get Free Report) had its price objective upped by research analysts at Morgan Stanley from $379.00 to $390.00 in a report released on Monday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Morgan Stanley’s price target points to a potential upside of 16.76% from the company’s previous close.
Several other research analysts have also weighed in on the company. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Mizuho raised their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Cantor Fitzgerald increased their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $378.22.
View Our Latest Research Report on The Cigna Group
The Cigna Group Price Performance
The Cigna Group (NYSE:CI – Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.47 EPS. On average, research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.
Insider Activity
In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in CI. Norges Bank acquired a new stake in The Cigna Group during the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of The Cigna Group during the fourth quarter worth $724,517,000. GAMMA Investing LLC grew its position in shares of The Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after purchasing an additional 1,771,613 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of The Cigna Group during the 4th quarter valued at $313,911,000. Finally, GQG Partners LLC increased its position in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the period. 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.
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