The Cigna Group (NYSE:CI) Given Average Rating of “Buy” by Brokerages

Shares of The Cigna Group (NYSE:CI) have earned a consensus recommendation of “Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $392.79.

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Tuesday. Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Asset Advisory Services LLC increased its position in shares of 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 purchasing an additional 29 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after purchasing an additional 32 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after purchasing an additional 32 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI stock opened at $341.53 on Friday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm has a market capitalization of $97.02 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.08 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 stock’s 50-day simple moving average is $348.53 and its 200-day simple moving average is $345.11.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the previous year, the firm earned $6.13 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is presently 45.98%.

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.