The Cigna Group (NYSE:CI) Shares Up 5.4% – Should You Buy?

The Cigna Group (NYSE:CI)’s share price traded up 5.4% during mid-day trading on Friday . The stock traded as high as $293.20 and last traded at $298.19. 201,285 shares traded hands during trading, a decline of 88% from the average session volume of 1,707,127 shares. The stock had previously closed at $282.98.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CI shares. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald lowered their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Stephens dropped their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Barclays dropped their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $380.27.

The Cigna Group Price Performance

The firm’s 50 day moving average price is $295.09 and its two-hundred day moving average price is $324.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $82.64 billion, a PE ratio of 27.99, a P/E/G ratio of 0.82 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same quarter in the prior year, the business earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

Institutional Trading of The Cigna Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in shares of The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares during the last quarter. Parnassus Investments LLC boosted its stake in shares of The Cigna Group by 2.1% in the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The Cigna Group by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after purchasing an additional 44,810 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The 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.