Brokerages Set The Cigna Group (NYSE:CI) Target Price at $395.93

Shares of The Cigna Group (NYSE:CI) have been assigned a consensus recommendation of “Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $395.93.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Truist Financial lowered their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CI. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at about $34,000. Ulland Investment Advisors LLC grew its holdings in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the third quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group in the third quarter valued at approximately $45,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $69,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $284.16 on Monday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $79.04 billion, a P/E ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54. The firm’s 50 day moving average is $301.37 and its two-hundred day moving average is $326.79.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the firm posted $6.77 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. Analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.