Cigna Group (NYSE:CI – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
A number of other brokerages have also recently commented on CI. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a report on Thursday, August 27th. UBS Group restated a “buy” rating on shares of Cigna Group in a report on Thursday, October 1st. Piper Sandler reissued an “overweight” rating on shares of Cigna Group in a report on Friday, October 23rd. Barclays lifted their target price on Cigna Group from $304.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group lowered shares of Cigna Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $336.00 to $307.00 in a research report on Tuesday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $338.24.
View Our Latest Analysis on Cigna Group
Cigna Group Stock Performance
Shares of CI stock opened at $298.13 on Friday. The stock has a fifty day moving average of $283.86 and a 200 day moving average of $281.53. The firm has a market capitalization of $78.78 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.01 and a beta of 0.29. Cigna Group has a 52 week low of $239.51 and a 52 week high of $316.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68.
Cigna Group (NYSE:CI – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The health services provider reported $7.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.18. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The firm had revenue of $71.56 billion for the quarter, compared to the consensus estimate of $70.14 billion. During the same quarter last year, the firm posted $7.20 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts expect that Cigna Group will post 30.49 earnings per share for the current year.
Insider Transactions at Cigna Group
In other Cigna Group news, insider Nicole S. Jones sold 2,677 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the sale, the insider directly owned 25,880 shares in the company, valued at $7,236,306.80. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of Cigna Group stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the transaction, the insider directly owned 5,053 shares of the company’s stock, valued at $1,435,304.65. This represents a 10.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 22,730 shares of company stock worth $6,293,359. Company insiders own 0.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of CI. BlackRock Inc. grew its holdings in shares of Cigna Group by 3.7% during the 2nd quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock worth $6,461,457,000 after purchasing an additional 840,098 shares in the last quarter. GQG Partners LLC bought a new position in Cigna Group during the second quarter worth $1,628,918,000. Bank of America Corp DE raised its holdings in Cigna Group by 8.8% during the first quarter. Bank of America Corp DE now owns 3,182,083 shares of the health services provider’s stock worth $848,821,000 after buying an additional 256,677 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cigna Group by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,426,218 shares of the health services provider’s stock valued at $647,008,000 after purchasing an additional 236,340 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Cigna Group in the second quarter valued at about $542,779,000. 86.99% of the stock is currently owned by institutional investors.
About Cigna Group
The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.
The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.
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