The Cigna Group (NYSE:CI) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of The Cigna Group (NYSE:CI) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $400.00 price objective on the health services provider’s stock.

A number of other brokerages have also commented on CI. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Barclays lifted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Down 0.4 %

Shares of The Cigna Group stock opened at $316.85 on Wednesday. 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 has a market capitalization of $90.01 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a 50-day simple moving average of $348.97 and a two-hundred day simple moving average of $342.93.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $6.13 earnings per share. On average, analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The Cigna Group’s payout ratio is currently 45.98%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after buying an additional 625 shares in the last quarter. Hancock Whitney Corp raised its stake in The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares in the last quarter. ORG Partners LLC purchased a new stake in The Cigna Group during the second quarter valued at $489,000. Mirae Asset Global Investments Co. Ltd. raised its stake in The Cigna Group by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after purchasing an additional 16,846 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in The Cigna Group by 36.0% during the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares in the last quarter. Hedge funds and other 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.