The Cigna Group’s (CI) “Overweight” Rating Reiterated at Piper Sandler

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

CI has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Raymond James reissued a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday. Truist Financial decreased their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Oppenheimer decreased their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $377.20.

The Cigna Group Stock Up 0.3 %

CI stock traded up $0.81 during midday trading on Monday, hitting $295.02. The company’s stock had a trading volume of 582,613 shares, compared to its average volume of 1,808,816. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company’s fifty 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 PEG ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earned $6.79 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 29.66 EPS for the current year.

Institutional Trading of The Cigna Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its stake in The Cigna Group by 3.8% in the 4th quarter. Handelsbanken Fonder AB now owns 80,145 shares of the health services provider’s stock worth $22,131,000 after purchasing an additional 2,923 shares in the last quarter. Banyan Capital Management Inc. raised its position in shares of The Cigna Group by 0.9% in the 4th quarter. Banyan Capital Management Inc. now owns 53,690 shares of the health services provider’s stock valued at $14,826,000 after buying an additional 465 shares in the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of The Cigna Group by 5,367.4% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 64,570 shares of the health services provider’s stock valued at $17,830,000 after buying an additional 63,389 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $608,000. Finally, Financial Perspectives Inc raised its position in shares of The Cigna Group by 6,200.0% in the 4th quarter. Financial Perspectives Inc now owns 378 shares of the health services provider’s stock valued at $104,000 after buying an additional 372 shares in the last quarter. Institutional investors and hedge funds 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.