Barclays Increases The Cigna Group (NYSE:CI) Price Target to $385.00

The Cigna Group (NYSE:CI) had its price target lifted by analysts at Barclays from $382.00 to $385.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the health services provider’s stock. Barclays‘s price target would suggest a potential upside of 22.30% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Mizuho lifted their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Guggenheim reiterated a “buy” rating and set a $388.00 price target on shares of The Cigna Group in a research note on Friday, May 23rd. Robert W. Baird cut their price target on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. UBS Group dropped their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $379.50.

The Cigna Group Stock Performance

CI stock traded down $1.84 during trading on Monday, reaching $314.80. The company had a trading volume of 276,064 shares, compared to its average volume of 1,691,741. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 company has a market cap of $84.10 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The firm has a 50-day simple moving average of $324.83 and a 200-day simple moving average of $309.33.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.47 EPS. As a group, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

Insider Buying and Selling

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Several hedge funds and other institutional investors have recently bought and sold shares of CI. TCTC Holdings LLC purchased a new stake in The Cigna Group during the 4th quarter worth approximately $25,000. Flaharty Asset Management LLC bought a new stake in shares of The Cigna Group in the 1st quarter valued at approximately $28,000. 1248 Management LLC acquired a new stake in shares of The Cigna Group during the 1st quarter valued at approximately $29,000. Activest Wealth Management raised its position in shares of The Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Finally, Collier Financial acquired a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $32,000. 86.99% of the stock is currently owned by hedge funds and other 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.