Brokerages Set The Cigna Group (NYSE:CI) Target Price at $392.79

The Cigna Group (NYSE:CI) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. One investment 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 a report on the stock in the last year is $392.29.

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada dropped 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 note on Friday. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd.

Insider Buying and Selling at The Cigna Group

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

Institutional Investors Weigh In On The Cigna Group

Several institutional investors have recently modified their holdings of CI. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the first quarter valued at approximately $29,000. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC boosted its position in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the third quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group in the second quarter valued at about $66,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.5 %

Shares of CI stock opened at $316.49 on Wednesday. The firm has a market capitalization of $88.47 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 0.95 and a beta of 0.51. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm’s fifty day simple moving average is $345.77 and its 200 day simple moving average is $341.48. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the previous year, the firm posted $6.77 EPS. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date 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 dividend payout ratio is 52.83%.

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.