The Cigna Group (NYSE:CI) Receives $362.14 Average PT from Analysts

The Cigna Group (NYSE:CI) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $362.14.

Several equities research analysts have recently commented on CI shares. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company lifted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Finally, Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $327.00 to $354.00 in a report on Monday, February 5th.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. In the last three months, insiders sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Cigna Group

Large investors have recently bought and sold shares of the company. Bogart Wealth LLC boosted its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new position in The Cigna Group during the 3rd quarter worth approximately $26,000. Main Street Group LTD acquired a new position in The Cigna Group during the 4th quarter worth approximately $28,000. Fairfield Bush & CO. acquired a new position in The Cigna Group during the 2nd quarter worth approximately $28,000. Finally, Fortitude Family Office LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.0 %

CI opened at $352.39 on Friday. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s fifty day moving average price is $348.41 and its two-hundred day moving average price is $315.48. The company has a market capitalization of $103.02 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.06 and a beta of 0.56.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same quarter in the previous year, the company earned $4.96 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. The Cigna Group’s dividend payout ratio is 32.20%.

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.