The Cigna Group’s (CI) “Outperform” Rating Reiterated at Royal Bank of Canada

The Cigna Group (NYSE:CI)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a report released on Monday, Benzinga reports. They currently have a $384.00 price objective on the health services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 7.58% from the company’s current price.

Several other brokerages also recently issued reports on CI. Barclays upped their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $387.00.

The Cigna Group Trading Up 1.0 %

NYSE CI traded up $3.44 on Monday, hitting $356.93. The company’s stock had a trading volume of 148,547 shares, compared to its average volume of 1,533,214. The company’s 50-day moving average is $340.62 and its 200 day moving average is $343.61. The firm has a market cap of $99.78 billion, a PE ratio of 29.18, a PEG ratio of 1.08 and a beta of 0.50. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.64. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the company earned $6.13 earnings per share. The firm’s revenue was up 24.6% compared to the same quarter last year. As a group, analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the SEC, which is available through this link. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,033 shares of company stock worth $3,095,820. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Silicon Valley Capital Partners lifted its holdings in shares of The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the 1st quarter valued at approximately $29,000. Raleigh Capital Management Inc. raised its position in The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group during the second quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. 86.99% of the stock is 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.