Cigna Group (NYSE:CI) Price Target Cut to $333.00 by Analysts at TD Cowen

Cigna Group (NYSE:CI) had its price target reduced by stock analysts at TD Cowen from $387.00 to $333.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the health services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 27.33% from the stock’s current price.

Several other brokerages have also recently weighed in on CI. Morgan Stanley reaffirmed an “overweight” rating and set a $355.00 price target on shares of Cigna Group in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the company a “buy” rating in a report on Tuesday, August 5th. Barclays cut their price objective on Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company increased their price objective on Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group cut their price objective on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and an average price target of $347.36.

Cigna Group Stock Up 1.1%

Shares of CI traded up $2.91 during mid-day trading on Tuesday, hitting $261.53. 1,684,991 shares of the company’s stock were exchanged, compared to its average volume of 1,821,108. The company has a market cap of $69.81 billion, a PE ratio of 14.26, a P/E/G ratio of 0.88 and a beta of 0.45. Cigna Group has a 52 week low of $239.51 and a 52 week high of $350.00. The company has a 50-day simple moving average of $296.37 and a 200 day simple moving average of $305.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, topping the consensus estimate of $7.64 by $0.19. The company had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider owned 51,182 shares in the company, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its position in Cigna Group by 119.5% in the third quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 49 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group during the first quarter worth about $28,000. 1248 Management LLC bought a new stake in shares of Cigna Group during the first quarter worth about $29,000. Solstein Capital LLC bought a new stake in shares of Cigna Group during the second quarter worth about $29,000. Finally, Activest Wealth Management grew its holdings in shares of Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

About Cigna Group

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.