The Cigna Group (NYSE:CI) Price Target Raised to $420.00 at Barclays

The Cigna Group (NYSE:CI) had its price objective upped by Barclays from $405.00 to $420.00 in a research report released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the health services provider’s stock.

A number of other research firms have also weighed in on CI. Royal Bank of Canada cut their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Performance

NYSE CI opened at $318.34 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a 50-day simple moving average of $344.23 and a two-hundred day simple moving average of $340.99. The firm has a market capitalization of $88.55 billion, a P/E ratio of 30.03, a PEG ratio of 0.96 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 EPS. On average, equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.76%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Insider Buying and Selling at The Cigna Group

In other news, 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 completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Several institutional investors and hedge funds have recently bought and sold shares of CI. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the first quarter worth approximately $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC lifted its stake in shares of The Cigna Group by 2,500.0% in the 3rd 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. bought a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group during the 2nd quarter worth $66,000. Institutional investors own 86.99% of the company’s stock.

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.