The Cigna Group (NYSE:CI) Receives Consensus Rating of “Buy” from Brokerages

The Cigna Group (NYSE:CI) has been given an average rating of “Buy” by the fifteen analysts that are covering the firm, MarketBeat.com 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 target price among brokers that have issued ratings on the stock in the last year is $392.29.

Several brokerages have commented on CI. Barclays raised their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday.

The Cigna Group Trading Up 0.5 %

The Cigna Group stock opened at $316.49 on Wednesday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm’s 50 day moving average price is $345.77 and its two-hundred day moving average price is $341.48. The firm has a market cap of $88.47 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth 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 (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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 given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’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 completion of the sale, 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 SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group in the first quarter valued at approximately $29,000. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC lifted its position 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 worth $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group in the second quarter valued at about $66,000. 86.99% of the stock is owned by institutional investors.

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.