Cantor Fitzgerald Issues Pessimistic Forecast for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI) had its price objective cut by investment analysts at Cantor Fitzgerald from $400.00 to $350.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 17.49% from the company’s previous close.

A number of other brokerages also recently weighed in on CI. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Morgan Stanley cut their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Truist Financial cut their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $385.64.

The Cigna Group Trading Up 5.3 %

NYSE CI traded up $14.92 during mid-day trading on Friday, hitting $297.90. The company’s stock had a trading volume of 971,333 shares, compared to its average volume of 1,734,864. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market capitalization of $82.86 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day simple moving average is $295.09 and its two-hundred day simple moving average is $324.69.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. During the same period last year, the business earned $6.79 EPS. Research analysts expect that The Cigna Group will post 28.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFG Advisors LLC increased its holdings in shares of The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares during the period. McClarren Financial Advisors Inc. lifted its stake in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after purchasing an additional 31 shares during the period. Castle Rock Wealth Management LLC raised its stake in The Cigna Group by 0.5% during the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after acquiring an additional 34 shares in the last quarter. Adero Partners LLC boosted its holdings in shares of The Cigna Group by 4.5% in the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after acquiring an additional 34 shares in the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in The Cigna Group by 1.0% in the third quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock worth $1,265,000 after purchasing an additional 35 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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.