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

The Cigna Group (NYSE:CI) has received an average rating of “Buy” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $394.64.

CI has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $282.41 on Thursday. The business’s fifty day moving average price is $322.26 and its 200 day moving average price is $335.44. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $78.55 billion, a P/E ratio of 26.64, a PEG ratio of 0.88 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. As a group, research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid 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 1.98%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Hedge Funds Weigh In On The Cigna Group

Several large investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of The Cigna Group by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after buying an additional 130,048 shares during the last quarter. Geode Capital Management LLC raised its stake in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares during the period. Parnassus Investments LLC boosted its stake in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after purchasing an additional 150,765 shares during the last quarter. Institutional investors 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.