The Cigna Group’s (CI) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of The Cigna Group (NYSE:CI) in a research note published on Monday morning,Benzinga reports. Piper Sandler currently has a $348.00 target price on the health services provider’s stock, down from their prior target price of $394.00.

A number of other analysts have also recently weighed in on the stock. Truist Financial decreased their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald dropped their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Oppenheimer decreased their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Barclays dropped their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $377.07.

The Cigna Group Stock Performance

NYSE:CI opened at $293.00 on Monday. The firm has a market capitalization of $81.50 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The business’s fifty day moving average price is $292.73 and its 200 day moving average price is $323.53. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company posted $6.79 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.06%. The Cigna Group’s dividend payout ratio (DPR) is 45.75%.

Institutional Investors Weigh In On The Cigna Group

Institutional investors have recently modified their holdings of the company. Sterling Financial Group Inc. acquired a new position in The Cigna Group during the fourth quarter worth about $4,367,000. Marks Group Wealth Management Inc increased its stake in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the last quarter. Trinity Street Asset Management LLP lifted its stake in The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after buying an additional 5,397 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after buying an additional 3,466 shares during 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.