Cigna Group (NYSE:CI) Upgraded to “Buy” at Wall Street Zen

Cigna Group (NYSE:CI) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

CI has been the subject of a number of other reports. The Goldman Sachs Group cut their price objective on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Jefferies Financial Group reissued a “buy” rating and set a $310.00 price target on shares of Cigna Group in a report on Monday, November 3rd. Leerink Partners dropped their price objective on shares of Cigna Group from $300.00 to $270.00 in a report on Friday, October 31st. UBS Group set a $294.00 target price on shares of Cigna Group in a research note on Wednesday, November 12th. Finally, Zacks Research downgraded Cigna Group from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.83.

Cigna Group Stock Performance

NYSE:CI opened at $276.34 on Friday. The firm has a market capitalization of $73.82 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.00 and a beta of 0.26. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Cigna Group has a 12-month low of $239.51 and a 12-month high of $350.00. The firm has a 50-day moving average price of $275.25 and a 200 day moving average price of $291.40.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. The company had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cigna Group news, CEO David Cordani bought 4,134 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the transaction, the chief executive officer owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. The trade was a 2.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the transaction, the insider owned 51,182 shares in the company, valued at $15,354,600. This represents a 9.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Cigna Group

Several hedge funds have recently added to or reduced their stakes in the stock. Wilsey Asset Management Inc. boosted its position in shares of Cigna Group by 2.9% in the 2nd quarter. Wilsey Asset Management Inc. now owns 101,936 shares of the health services provider’s stock worth $33,698,000 after purchasing an additional 2,847 shares in the last quarter. SCS Capital Management LLC raised its stake in Cigna Group by 39.1% during the second quarter. SCS Capital Management LLC now owns 30,633 shares of the health services provider’s stock valued at $10,127,000 after buying an additional 8,609 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Cigna Group by 3.9% in the second quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock worth $54,707,000 after acquiring an additional 6,155 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock worth $1,030,000 after acquiring an additional 1,494 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Cigna Group by 3.9% during the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after acquiring an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.