Cantor Fitzgerald Lowers Cigna Group Stock Target Amid Market Concerns

Cigna Group (NYSE: CI) experienced a downward adjustment in its stock price target by analysts at Cantor Fitzgerald, who revised their estimate from $365.00 to $325.00 in a report issued on October 27, 2023. This new target reflects a potential upside of approximately 32.83% based on the stock’s current price. Analysts at Cantor Fitzgerald also projected Cigna’s earnings for the fiscal year 2025 at $29.60 per share.

Other financial institutions have also reassessed their views on Cigna Group. Robert W. Baird set a price objective of $372.00 on August 14, while Wells Fargo & Company raised their target from $340.00 to $354.00 and assigned an “equal weight” rating on October 3, 2023. Morgan Stanley maintained an “overweight” rating while issuing a target price of $355.00 on the same day. Conversely, Truist Financial and Guggenheim both reduced their target prices to $310.00 and $309.00 respectively.

Currently, Cigna Group holds an average rating of “Moderate Buy” from analysts, with two rating it as a Strong Buy, sixteen as Buy, and three as Hold. The consensus price target is $350.74 according to data from MarketBeat.com.

Recent Performance and Market Position

Cigna Group’s stock opened at $244.67 on October 27, reflecting a market capitalization of $65.31 billion. The company has a price-to-earnings ratio of 13.36 and a debt-to-equity ratio of 0.65. Over the past twelve months, the stock has seen a low of $240.67 and a high of $350.00. Its current 50-day moving average stands at $297.19, while the 200-day moving average is $305.96.

Cigna Group’s latest earnings report, released on October 30, 2023, revealed earnings per share (EPS) of $7.83, exceeding the consensus estimate of $7.64 by $0.19. The company reported revenues of $69.57 billion, surpassing expectations of $66.40 billion. Year-over-year, Cigna’s revenue grew by 9.5%, with a net margin of 1.92% and a return on equity of 18.80%.

Insider Transactions and Institutional Investor Activity

In recent developments, insider transactions have also caught attention. Nicole S. Jones sold 28,526 shares on August 15, 2023, at an average price of $300.00, totaling $8,557,800.00. This sale reduced her position by 52.66%. Another insider, Brian C. Evanko, sold 5,368 shares on October 3, 2023, at the same average price, bringing in $1,610,400.00 and reducing his holdings by 9.49%.

Institutional investors have also been active, with several firms adjusting their positions in Cigna Group. Harbor Capital Advisors Inc. increased its stake by 119.5% during the third quarter, now holding 90 shares valued at approximately $26,000. Other notable investors include Flaharty Asset Management LLC and Activest Wealth Management, both of which have made new acquisitions or increased their holdings recently. Institutional investors currently own 86.99% of Cigna Group’s stock.

Cigna Group, along with its subsidiaries, provides a range of insurance products and health services in the United States. Its Evernorth Health Services segment offers various coordinated health services, including pharmacy benefits and care management solutions.

As market analysts continue to reassess Cigna Group’s potential, investors are keenly observing these developments for future guidance on the company’s financial trajectory.