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

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

Other equities research analysts have also recently issued research reports about the company. Truist Financial boosted their price target on Cigna Group from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $310.00 price target on shares of Cigna Group in a research report on Monday, November 3rd. Leerink Partners decreased their price target on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Cigna Group in a research report on Monday, December 29th. Finally, TD Cowen set a $333.00 price target on shares of Cigna Group in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.84.

Cigna Group Price Performance

NYSE:CI traded down $1.74 during trading hours on Monday, hitting $272.37. 95,527 shares of the stock were exchanged, compared to its average volume of 1,466,739. Cigna Group has a 52-week low of $239.51 and a 52-week high of $350.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a market cap of $72.76 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.97 and a beta of 0.26. The firm’s fifty day moving average price is $274.57 and its 200 day moving average price is $284.38.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating the consensus estimate of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The company had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same period in the prior year, the firm posted $7.51 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CI. Harbor Capital Advisors Inc. raised its holdings in shares of Cigna Group by 119.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 49 shares during the period. Beacon Financial Strategies CORP bought a new position in shares of Cigna Group during the fourth quarter valued at approximately $28,000. Solstein Capital LLC purchased a new stake in Cigna Group in the second quarter valued at $29,000. Chilton Capital Management LLC acquired a new stake in Cigna Group in the 2nd quarter valued at about $30,000. Finally, Princeton Global Asset Management LLC grew its stake in Cigna Group by 115.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

About Cigna Group

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.