The Cigna Group (NYSE:CI) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of The Cigna Group (NYSE:CI) in a research note published on Tuesday morning, Benzinga reports. They currently have a $400.00 price objective on the health services provider’s stock.

CI has been the topic of several other research reports. Baird R W raised The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Stephens reiterated an overweight rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Royal Bank of Canada reissued an outperform rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday. Finally, Barclays boosted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an overweight rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued 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 an average rating of Buy and a consensus price target of $387.00.

The Cigna Group Trading Up 1.2 %

The Cigna Group stock opened at $362.19 on Tuesday. The firm has a 50-day moving average price of $343.27 and a two-hundred day moving average price of $344.04. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.64. The firm has a market capitalization of $102.89 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.08 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the previous year, the firm earned $6.13 EPS. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. Sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Insiders sold a total of 8,033 shares of company stock worth $2,757,740 over the last three months. 0.60% of the stock is currently owned by insiders.

Institutional Trading of The Cigna Group

Several hedge funds have recently modified their holdings of the stock. Silicon Valley Capital Partners lifted its position in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group during the first quarter worth approximately $29,000. Raleigh Capital Management Inc. increased its holdings in The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in The Cigna Group in the second quarter valued at about $33,000. Finally, Pineridge Advisors LLC bought a new position in The Cigna Group during the fourth quarter worth about $37,000. 86.99% of the stock is owned by institutional investors.

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.