Analysts Set The Cigna Group (NYSE:CI) Price Target at $387.00

The Cigna Group (NYSE:CI) has been given an average recommendation of “Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $387.00.

Several analysts have weighed in on CI shares. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Monday. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler initiated coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock.

The Cigna Group Stock Up 1.2 %

Shares of NYSE:CI opened at $362.19 on Tuesday. The firm has a market cap of $102.89 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The company has a fifty day simple moving average of $343.27 and a 200 day simple moving average of $344.04. 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 Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.64.

The Cigna Group (NYSE:CI) last released its earnings results 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during 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 revenue was up 24.6% on a year-over-year basis. On average, equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction dated 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 $1,812,979.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold a total of 8,033 shares of company stock valued at $2,757,740 over the last three months. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in The Cigna Group in the second quarter worth approximately $13,895,000. Brown Financial Advisors acquired a new position in shares of The Cigna Group during the 2nd quarter worth $1,700,000. Kestra Investment Management LLC bought a new position in shares of The Cigna Group during the 2nd quarter valued at $439,000. Clearbridge Investments LLC lifted its stake in shares of The Cigna Group by 154.9% in the 2nd quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock valued at $1,165,000 after purchasing an additional 2,142 shares during the last quarter. Finally, KPP Advisory Services LLC boosted its holdings in The Cigna Group by 5.0% in the second quarter. KPP Advisory Services LLC now owns 1,176 shares of the health services provider’s stock worth $389,000 after purchasing an additional 56 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

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.