The Cigna Group’s (CI) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

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

A number of other equities analysts have also recently weighed in on CI. StockNews.com raised shares of The Cigna Group from a buy rating to a strong-buy rating in a research report on Friday, August 2nd. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an overweight rating and a $400.00 price objective for the company. Stephens restated an overweight rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. Robert W. Baird assumed coverage on The Cigna Group in a research note on Thursday, May 30th. They set an outperform rating and a $388.00 target price for the company. Finally, Baird R W upgraded shares of The Cigna Group to a strong-buy rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of Buy and an average target price of $387.00.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $367.07 on Monday. The business’s 50-day simple moving average is $345.05 and its 200 day simple moving average is $344.51. The company has a market cap of $104.28 billion, a P/E ratio of 30.14, a PEG ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.13 earnings per share. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.53%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 4,795 shares of the firm’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 completion of the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of The Cigna Group during the second quarter valued at about $13,895,000. Brown Financial Advisors bought a new stake in shares of The Cigna Group during the 2nd quarter worth about $1,700,000. Kestra Investment Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $439,000. Clearbridge Investments LLC boosted its holdings in shares of The Cigna Group by 154.9% in the second quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock valued at $1,165,000 after acquiring an additional 2,142 shares in the last quarter. Finally, KPP Advisory Services LLC increased its stake in shares of The Cigna Group by 5.0% during the second quarter. KPP Advisory Services LLC now owns 1,176 shares of the health services provider’s stock valued at $389,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.