Royal Bank of Canada Increases The Cigna Group (NYSE:CI) Price Target to $327.00

Posted by Defense World Staff on Nov 5th, 2023

The Cigna Group (NYSE:CI – Get Free Report) had its price objective hoisted by equities researchers at Royal Bank of Canada from $300.00 to $327.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the health services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 5.26% from the stock’s current price.

CI has been the topic of several other reports. Sanford C. Bernstein boosted their price target on shares of The Cigna Group from $326.00 to $330.00 in a report on Tuesday, October 10th. Cantor Fitzgerald boosted their price target on shares of The Cigna Group from $310.00 to $334.00 and gave the stock a “neutral” rating in a report on Friday. Raymond James boosted their price target on shares of The Cigna Group from $310.00 to $330.00 and gave the stock a “strong-buy” rating in a report on Monday, August 7th. Bank of America boosted their price target on shares of The Cigna Group from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of The Cigna Group from $356.00 to $341.00 in a report on Friday, July 7th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $343.56.

Read Our Latest Research Report on CI

The Cigna Group Stock Down 2.6 %

Shares of NYSE CI opened at $310.65 on Friday. The stock has a market capitalization of $91.95 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.12 and a beta of 0.65. The company has a 50-day moving average price of $292.61 and a 200-day moving average price of $278.54. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $340.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.68 by $0.09. The firm had revenue of $49.05 billion during the quarter, compared to analysts’ expectations of $48.14 billion. The Cigna Group had a net margin of 3.57% and a return on equity of 12.32%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $6.04 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 24.8 EPS for the current fiscal year.

Insider Activity

In other news, EVP Nicole S. Jones sold 7,819 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $276.86, for a total value of $2,164,768.34. Following the sale, the executive vice president now owns 30,069 shares of the company’s stock, valued at $8,324,903.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Cynthia Ryan sold 3,768 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $282.22, for a total transaction of $1,063,404.96. Following the sale, the executive vice president now owns 5,503 shares of the company’s stock, valued at approximately $1,553,056.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicole S. Jones sold 7,819 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $276.86, for a total transaction of $2,164,768.34. Following the sale, the executive vice president now directly owns 30,069 shares in the company, valued at approximately $8,324,903.34. The disclosure for this sale can be found here. Insiders have sold a total of 23,837 shares of company stock valued at $6,792,923 over the last quarter. Company insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in The Cigna Group during the 3rd quarter worth approximately $78,000. Capula Management Ltd bought a new position in shares of The Cigna Group in the 3rd quarter worth $252,000. Syon Capital LLC bought a new position in shares of The Cigna Group in the 3rd quarter worth $751,000. Signaturefd LLC increased its holdings in shares of The Cigna Group by 2.9% in the 3rd quarter. Signaturefd LLC now owns 4,822 shares of the health services provider’s stock worth $1,379,000 after buying an additional 138 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of The Cigna Group by 3.6% in the 3rd quarter. Corient Private Wealth LLC now owns 104,618 shares of the health services provider’s stock worth $29,929,000 after buying an additional 3,664 shares during the last quarter. Institutional investors own 85.32% of the company’s stock.

The Cigna Group Company Profile

(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.