The Cigna Group (NYSE:CI) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of The Cigna Group (NYSE:CI) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $400.00 target price on the health services provider’s stock.

Several other research analysts have also issued reports on CI. Barclays began coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an overweight rating and a $393.00 target price on the stock. Oppenheimer upped their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Baird R W upgraded shares of The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Morgan Stanley restated an overweight rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Robert W. Baird began coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an outperform rating and a $388.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $373.87.

The Cigna Group Trading Down 0.3 %

NYSE:CI opened at $333.29 on Wednesday. The firm’s fifty day moving average is $344.30 and its 200-day moving average is $328.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The firm has a market cap of $94.68 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.02 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the firm posted $5.41 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts expect that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, Director Elder Granger sold 1,000 shares of The Cigna Group stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,849,635.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,193 shares of company stock worth $19,475,326. 0.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. FMR LLC raised its stake in shares of The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after acquiring an additional 1,939,554 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Sanders Capital LLC raised its stake in shares of The Cigna Group by 1.3% during the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after acquiring an additional 97,277 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after acquiring an additional 225,115 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

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.