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

Shares of The Cigna Group (NYSE:CI) have earned a consensus recommendation of “Buy” from the seventeen ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $373.25.

Several research analysts have weighed in on the stock. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Truist Financial cut their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $324.97 on Friday. The business has a 50-day simple moving average of $304.67 and a 200 day simple moving average of $314.08. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. 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 firm has a market capitalization of $88.94 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the company posted $6.79 EPS. On average, research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.86%. The Cigna Group’s payout ratio is currently 49.35%.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last three months. Company insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Institutional investors have recently modified their holdings of the business. TCTC Holdings LLC purchased a new position in The Cigna Group in the 4th quarter valued at approximately $25,000. Collier Financial purchased a new position in shares of The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group during the 4th quarter valued at $34,000. Putney Financial Group LLC purchased a new stake in The Cigna Group during the 4th quarter worth about $36,000. Finally, Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter worth about $37,000. 86.99% of the stock is currently owned by hedge funds and other 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.