Cigna Group (NYSE:CI) Stock Has Consensus Price Target of $338.24 According to Analysts

Cigna Group (NYSE:CI) has been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $338.24.

A number of research analysts recently commented on CI shares. UBS Group reaffirmed a “buy” rating on shares of Cigna Group in a report on Thursday, October 1st. Raymond James Financial downgraded Cigna Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $350.00 to $320.00 in a report on Monday, August 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $337.00 price target on shares of Cigna Group in a research report on Thursday, October 1st. Evercore started coverage on shares of Cigna Group in a research report on Wednesday, September 9th. They set an “in-line” rating and a $290.00 target price for the company. Finally, Robert W. Baird set a $362.00 target price on shares of Cigna Group in a research note on Friday, July 31st.

Insider Activity

In related news, insider Nicole Jones sold 2,677 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the transaction, the insider directly owned 25,880 shares of the company’s stock, valued at $7,236,306.80. This trade represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the transaction, the insider directly owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 22,730 shares of company stock valued at $6,293,359. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Cigna Group

Several large investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in shares of Cigna Group by 2.3% in the third quarter. Pathway Financial Advisers LLC now owns 2,640 shares of the health services provider’s stock worth $718,000 after acquiring an additional 60 shares during the last quarter. Rakuten Investment Management Inc. lifted its position in shares of Cigna Group by 9.8% in the third quarter. Rakuten Investment Management Inc. now owns 47,447 shares of the health services provider’s stock valued at $13,060,000 after acquiring an additional 4,230 shares in the last quarter. Provenance Wealth Advisors LLC boosted its stake in shares of Cigna Group by 198.1% during the third quarter. Provenance Wealth Advisors LLC now owns 4,618 shares of the health services provider’s stock valued at $1,255,000 after acquiring an additional 3,069 shares during the last quarter. Lyell Wealth Management LP boosted its stake in shares of Cigna Group by 4.7% during the third quarter. Lyell Wealth Management LP now owns 915 shares of the health services provider’s stock valued at $249,000 after acquiring an additional 41 shares during the last quarter. Finally, Associated Banc Corp purchased a new stake in Cigna Group during the 3rd quarter worth about $16,682,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Down 0.1%

Shares of CI stock opened at $298.13 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.68. Cigna Group has a 12-month low of $239.51 and a 12-month high of $316.27. The stock has a market capitalization of $78.78 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.01 and a beta of 0.29. The firm’s 50 day moving average is $283.86 and its 200 day moving average is $281.53.

Cigna Group (NYSE:CI) last announced its earnings results on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, beating analysts’ consensus estimates of $7.60 by $0.18. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The business had revenue of $71.56 billion during the quarter, compared to analysts’ expectations of $70.14 billion. During the same period in the prior year, the company earned $7.20 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Research analysts expect that Cigna Group will post 30.49 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $1.56 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 dividend on an annualized basis and a yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is 25.82%.

About Cigna Group

The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.