Analysts Set The Cigna Group (NYSE:CI) Target Price at $394.64

The Cigna Group (NYSE:CI) has been given a consensus rating of “Buy” by the fifteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $394.64.

Several brokerages have recently issued reports on CI. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st.

Hedge Funds Weigh In On The Cigna Group

Large investors have recently modified their holdings of the company. CreativeOne Wealth LLC bought a new stake in The Cigna Group during the first quarter valued at $454,000. BOKF NA grew its holdings in shares of The Cigna Group by 14.3% during the first quarter. BOKF NA now owns 5,381 shares of the health services provider’s stock worth $1,959,000 after purchasing an additional 673 shares in the last quarter. SVB Wealth LLC increased its position in shares of The Cigna Group by 5.2% in the first quarter. SVB Wealth LLC now owns 9,554 shares of the health services provider’s stock worth $3,470,000 after purchasing an additional 474 shares during the last quarter. Redmile Group LLC bought a new position in shares of The Cigna Group in the first quarter worth approximately $23,765,000. Finally, Waverly Advisors LLC raised its stake in The Cigna Group by 132.5% in the first quarter. Waverly Advisors LLC now owns 4,829 shares of the health services provider’s stock valued at $1,754,000 after purchasing an additional 2,752 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Up 0.4 %

The Cigna Group stock opened at $336.50 on Friday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50-day simple moving average is $333.52 and its 200 day simple moving average is $338.51. The stock has a market cap of $93.60 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.77 EPS. Research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 52.83%.

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.