The Cigna Group’s (CI) Overweight Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of The Cigna Group (NYSE:CI) in a research note published on Friday morning, Benzinga reports. They currently have a $410.00 price objective on the health services provider’s stock.

Several other analysts also recently issued reports on CI. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One 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.com, The Cigna Group has an average rating of “Buy” and an average target price of $392.29.

The Cigna Group Trading Up 0.5 %

NYSE CI opened at $316.49 on Friday. The firm has a market capitalization of $88.47 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 0.95 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.72. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company’s 50 day moving average price is $345.77 and its 200 day moving average price is $341.48.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the firm posted $6.77 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.77%. The Cigna Group’s payout ratio is 52.83%.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CI. Cedar Wealth Management LLC bought a new position in The Cigna Group in the 1st quarter worth about $29,000. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC raised its stake in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group in the second quarter worth $66,000. 86.99% of the stock is currently owned by institutional investors.

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.