The Cigna Group (NYSE:CI) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of The Cigna Group (NYSE:CI) from a buy rating to a strong-buy rating in a report issued on Friday.

Several other research analysts also recently weighed in on the company. Oppenheimer boosted their price target on The Cigna Group from $370.00 to $400.00 and gave the company an outperform rating in a report on Friday, May 3rd. Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an outperform rating and a $388.00 price target for the company. Stephens reaffirmed an overweight rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday. Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the company an overweight rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $381.00.

The Cigna Group Stock Down 3.4 %

CI opened at $325.88 on Friday. 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 Cigna Group has a one year low of $253.95 and a one year high of $365.71. The business’s 50-day simple moving average is $335.80 and its 200-day simple moving average is $339.17. The stock has a market capitalization of $92.57 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the previous year, the company earned $6.13 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. Analysts anticipate that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.72%. 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 other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $1,006,348,000. Vanguard Group Inc. lifted its position in shares of The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after purchasing an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Focused Investors Fund L P bought a new stake in shares of The Cigna Group in the 1st quarter valued at $205,529,000. Finally, Cerity Partners LLC increased its stake in The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after purchasing an additional 538,274 shares in the last quarter. 86.99% of the stock is 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.