The Cigna Group (NYSE:CI) Receives Overweight Rating from Stephens

Stephens reiterated their overweight rating on shares of The Cigna Group (NYSE:CI) in a report released on Friday morning, Benzinga reports. Stephens currently has a $410.00 price target on the health services provider’s stock.

A number of other research analysts have also commented on CI. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $392.29.

The Cigna Group Stock Performance

The Cigna Group stock traded up $1.68 during midday trading on Friday, reaching $316.49. 2,810,769 shares of the company’s stock were exchanged, compared to its average volume of 1,526,703. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50-day simple moving average is $345.77 and its 200 day simple moving average is $341.55. The firm has a market cap of $88.47 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 0.95 and a beta of 0.50. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the business earned $6.77 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 44.06%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Several large investors have recently bought and sold shares of the company. Cedar Wealth Management LLC bought a new position in The Cigna Group during the 1st quarter worth $29,000. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC boosted its holdings in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group during the 3rd quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group during the 2nd quarter worth approximately $66,000. 86.99% of the stock is currently owned by institutional investors.

About The Cigna Group

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.