The Cigna Group (NYSE:CI) Price Target Raised to $365.00

The Cigna Group (NYSE:CI) had its target price boosted by Cantor Fitzgerald from $350.00 to $365.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the health services provider’s stock.

CI has been the topic of several other reports. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Stephens dropped their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Truist Financial lowered their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $373.25.

The Cigna Group Stock Down 1.4 %

CI opened at $316.78 on Thursday. The firm has a 50 day moving average price of $300.83 and a 200 day moving average price of $315.05. The company has a market cap of $86.70 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company posted $6.79 earnings per share. Sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group’s payout ratio is 49.35%.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of The Cigna Group

Several large investors have recently made changes to their positions in CI. Norges Bank bought a new stake in shares of The Cigna Group during the fourth quarter worth $867,785,000. T. Rowe Price Investment Management Inc. bought a new position in The Cigna Group in the fourth quarter valued at about $724,517,000. Raymond James Financial Inc. bought a new position in The Cigna Group in the fourth quarter valued at about $313,911,000. GQG Partners LLC boosted its holdings in The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in The Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider’s stock valued at $225,385,000 after acquiring an additional 600,300 shares during the last quarter. Institutional investors 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.