Cigna Group (NYSE:CI) Receives “Buy” Rating from Guggenheim

Cigna Group (NYSE:CI)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a research note issued to investors on Monday,Benzinga reports. They currently have a $318.00 target price on the health services provider’s stock. Guggenheim’s target price suggests a potential upside of 16.75% from the company’s previous close.

A number of other brokerages also recently issued reports on CI. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cigna Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Cigna Group from $415.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Sanford C. Bernstein reissued a “market perform” rating and issued a $307.00 price target on shares of Cigna Group in a report on Tuesday, January 6th. Wall Street Zen cut Cigna Group from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Finally, Mizuho set a $325.00 price target on shares of Cigna Group in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cigna Group has an average rating of “Moderate Buy” and an average target price of $323.84.

Cigna Group Price Performance

Shares of CI traded down $1.74 during midday trading on Monday, hitting $272.37. The company’s stock had a trading volume of 95,527 shares, compared to its average volume of 1,466,739. The company’s fifty day simple moving average is $274.57 and its two-hundred day simple moving average is $284.38. Cigna Group has a one year low of $239.51 and a one year high of $350.00. The stock has a market capitalization of $72.76 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.97 and a beta of 0.26. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating 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 return on equity of 18.80% and a net margin of 2.29%.Cigna Group’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $7.51 EPS. As a group, equities analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cigna Group

Hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC increased its stake in Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock valued at $1,148,859,000 after purchasing an additional 3,471,249 shares during the last quarter. Norges Bank acquired a new position in shares of Cigna Group during the second quarter worth approximately $1,110,426,000. Capital Research Global Investors lifted its holdings in shares of Cigna Group by 140.2% during the 3rd quarter. Capital Research Global Investors now owns 3,179,301 shares of the health services provider’s stock valued at $916,434,000 after purchasing an additional 1,855,897 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Cigna Group by 8.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,805,083 shares of the health services provider’s stock worth $3,249,113,000 after buying an additional 903,334 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Cigna Group by 54.5% during the third quarter. Ameriprise Financial Inc. now owns 2,136,311 shares of the health services provider’s stock worth $615,781,000 after purchasing an additional 753,865 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.