Guggenheim Begins Coverage on The Cigna Group (NYSE:CI)
Guggenheim has initiated coverage on The Cigna Group (NYSE:CI), assigning a "buy" rating and a price target of $384.00, indicating a potential upside of 23.68%. Other analysts have also adjusted their price targets, with Cantor Fitzgerald raising theirs to $365.00 and Mizuho to $384.00. Currently, The Cigna Group has an average rating of "Buy" with a target price of $374.44. The stock recently traded at $310.48, with a market cap of $84.97 billion and a PE ratio of 25.39.
Research analysts at Guggenheim began coverage on shares of The Cigna Group (NYSE:CI - Get Free Report) in a research report issued on Wednesday,Benzinga reports. The firm set a "buy" rating and a $384.00 price target on the health services provider's stock. Guggenheim's target price points to a potential upside of 23.68% from the stock's current price.
Get The Cigna Group alerts:
- Humana Gains Despite Medicare Advantage Losses—What’s the Catch?
A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday. Oppenheimer decreased their target price on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and an average price target of $374.44.
View Our Latest Stock Analysis on CI
The Cigna Group Stock Performance
- Cigna Misses EPS: What It Means for the Health Insurance Industry
Shares of The Cigna Group stock traded down $3.36 during trading on Wednesday, hitting $310.48. 285,192 shares of the stock were exchanged, compared to its average volume of 1,672,594. The stock's fifty day moving average is $309.30 and its 200 day moving average is $311.80. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market cap of $84.97 billion, a PE ratio of 25.39, a P/E/G ratio of 0.98 and a beta of 0.51. 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 Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period last year, the business posted $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.
Insider Buying and Selling at The Cigna Group
- MarketBeat Week in Review – 01/06 - 01/10
In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company's stock, 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. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by insiders.
Institutional Trading of The Cigna Group
Institutional investors and hedge funds have recently made changes to their positions in the stock. TCTC Holdings LLC purchased a new stake in The Cigna Group during the fourth quarter valued at about $25,000. Collier Financial purchased a new position in shares of The Cigna Group during the 4th quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at about $34,000. Putney Financial Group LLC bought a new stake in The Cigna Group in the 4th quarter worth approximately $36,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
About The Cigna Group
(Get Free Report)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.
See Also
- Five stocks we like better than The Cigna Group
- Most Volatile Stocks, What Investors Need to Know
- Is Alphabet a Generational Buying Opportunity at These Levels?
- What is a Death Cross in Stocks?
- Is Microsoft Stock Too Cheap to Ignore After Its Latest Drop?
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Why Markets Suddenly See Opportunity in These Emerging Markets
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in The Cigna Group Right Now?
Before you consider The Cigna Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Cigna Group wasn't on the list.
While The Cigna Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
