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

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

CI has been the subject of several other reports. 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 target for the company. Piper Sandler began coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an overweight rating and a $400.00 target price for the company. StockNews.com upgraded The Cigna Group from a buy rating to a strong-buy rating in a research report on Friday, August 2nd. Stephens reiterated an overweight rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Barclays increased their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of Buy and a consensus target price of $392.79.

The Cigna Group Trading Up 0.6 %

CI stock opened at $357.42 on Monday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $346.59 and its 200-day moving average is $344.83. The firm has a market cap of $101.53 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results 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 firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $6.13 earnings per share. Equities analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s payout ratio is presently 45.98%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction 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 sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. 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, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Cigna Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in The Cigna Group by 6.4% in the first 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 buying an additional 867,180 shares in the last quarter. Sanders Capital LLC boosted its holdings in shares of The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after buying an additional 97,277 shares during the period. Parnassus Investments LLC increased its position in shares of The Cigna Group by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after acquiring an additional 126,598 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after acquiring an additional 150,765 shares during the period. Institutional investors and hedge funds 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.