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

Stephens reissued their overweight rating on shares of The Cigna Group (NYSE:CI) in a report published on Friday morning, Benzinga reports. They currently have a $410.00 price objective on the health services provider’s stock.

CI has been the topic of a number of other research reports. Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an overweight rating in a research report on Thursday, May 30th. StockNews.com downgraded shares of The Cigna Group from a strong-buy rating to a buy rating in a research report on Saturday, July 20th. Baird R W raised shares of The Cigna Group to a strong-buy rating in a research report on Thursday, May 30th. Finally, Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an overweight rating and a $400.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of Buy and an average target price of $381.00.

The Cigna Group Trading Down 3.4 %

NYSE:CI opened at $325.88 on Friday. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. 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 firm has a market cap of $92.57 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.02 and a beta of 0.52. The firm has a 50-day simple moving average of $335.80 and a 200-day simple moving average of $339.17.

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

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insiders Place Their Bets

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently modified their holdings of the company. Savant Capital LLC boosted its stake in The Cigna Group by 50.9% during the second quarter. Savant Capital LLC now owns 17,375 shares of the health services provider’s stock worth $5,744,000 after buying an additional 5,860 shares during the period. Candriam S.C.A. boosted its stake in The Cigna Group by 150.2% during the second quarter. Candriam S.C.A. now owns 70,711 shares of the health services provider’s stock worth $23,374,000 after buying an additional 42,453 shares during the period. Private Advisor Group LLC boosted its stake in The Cigna Group by 2.2% during the second quarter. Private Advisor Group LLC now owns 21,120 shares of the health services provider’s stock worth $7,012,000 after buying an additional 455 shares during the period. Synergy Asset Management LLC purchased a new position in The Cigna Group during the second quarter worth about $596,000. Finally, Victory Capital Management Inc. lifted its position in shares of The Cigna Group by 9.4% during the second quarter. Victory Capital Management Inc. now owns 505,006 shares of the health services provider’s stock worth $166,940,000 after purchasing an additional 43,476 shares in the last quarter. Hedge funds and other 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.