The Cigna Group (NYSE:CI) Receives $376.20 Consensus Price Target from Brokerages

The Cigna Group (NYSE:CI) has received a consensus recommendation of “Buy” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $376.20.

Several equities analysts have commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday. They set an “overweight” rating and a $400.00 price target on the stock. Finally, Oppenheimer lifted their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd.

The Cigna Group Price Performance

NYSE CI opened at $330.57 on Thursday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50 day simple moving average is $341.23 and its 200 day simple moving average is $333.15. The firm has a market capitalization of $93.91 billion, a PE ratio of 27.14, 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 during the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.69%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was 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 in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On The Cigna Group

Large investors have recently modified their holdings of the business. Hanson & Doremus Investment Management boosted its holdings in The Cigna Group by 3.5% in the first quarter. Hanson & Doremus Investment Management now owns 867 shares of the health services provider’s stock valued at $315,000 after acquiring an additional 29 shares during the last quarter. Capital Asset Advisory Services LLC raised its holdings 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 buying an additional 29 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of The Cigna Group by 10.6% in the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after buying an additional 32 shares in the last quarter. First Financial Corp IN raised its holdings in shares of The Cigna Group by 17.2% in the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock worth $82,000 after acquiring an additional 33 shares during the last quarter. Finally, Somerset Trust Co lifted its position in The Cigna Group by 1.6% in the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock valued at $802,000 after acquiring an additional 34 shares in the last quarter. 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.