The Cigna Group (NYSE:CI) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of The Cigna Group (NYSE:CI) in a research note published on Monday, Benzinga reports. They currently have a $384.00 price target on the health services provider’s stock.

CI has been the subject of several other research reports. Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Robert W. Baird initiated coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an outperform rating and a $388.00 target price for the company. StockNews.com raised shares of The Cigna Group from a buy rating to a strong-buy rating in a report on Friday, August 2nd. Baird R W raised shares of The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Finally, Stephens reissued an overweight rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $387.00.

The Cigna Group Stock Down 0.2 %

The Cigna Group stock opened at $357.44 on Monday. The firm has a market capitalization of $99.92 billion, a PE ratio of 29.35, a P/E/G ratio of 1.08 and a beta of 0.50. The company’s 50-day moving average is $342.53 and its 200-day moving average is $343.92. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.13 EPS. Sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors 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 1.57%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other The Cigna Group news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,033 shares of company stock worth $2,757,740. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently modified their holdings of the company. Capital Asset Advisory Services LLC boosted its stake in The Cigna Group by 2.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after acquiring an additional 29 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after acquiring an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after acquiring an additional 32 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after acquiring an additional 32 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.