Cigna Group (NYSE:CI) Rating Lowered to “Strong Sell” at Zacks Research

Cigna Group (NYSE:CI) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also issued reports on CI. Guggenheim reduced their price objective on shares of Cigna Group from $350.00 to $309.00 in a report on Friday, October 31st. Morgan Stanley restated an “overweight” rating and issued a $355.00 price objective on shares of Cigna Group in a report on Friday. Truist Financial reduced their price objective on shares of Cigna Group from $375.00 to $310.00 in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Leerink Partners cut their price target on shares of Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and a consensus price target of $344.91.

Cigna Group Trading Up 2.0%

Shares of CI stock opened at $263.87 on Monday. The company’s 50-day moving average price is $295.64 and its 200-day moving average price is $304.84. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock has a market cap of $70.43 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.88 and a beta of 0.45. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00.

Cigna Group (NYSE:CI) last announced its quarterly 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 firm had revenue of $69.57 billion for 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 company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Insider Transactions at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business’s 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 directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This represents a 9.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Cigna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its holdings in Cigna Group by 3.9% in the second quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after purchasing an additional 6,155 shares in the last quarter. Modern Wealth Management LLC boosted its holdings in shares of Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock valued at $1,030,000 after acquiring an additional 1,494 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Cigna Group by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after acquiring an additional 1,357 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Cigna Group by 277.5% in the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock valued at $2,718,000 after acquiring an additional 6,082 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cigna Group in the first quarter valued at approximately $431,000. 86.99% of the stock is owned by institutional investors and hedge funds.

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.