The Cigna Group (NYSE:CI) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of The Cigna Group (NYSE:CI) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

Several other equities research analysts also recently issued reports on the stock. Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Stephens reduced their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Stock Up 0.1 %

Shares of CI stock opened at $324.97 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap 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 firm’s 50-day moving average is $304.67 and its 200-day moving average is $313.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 business posted $6.79 earnings per share. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

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

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CreativeOne Wealth LLC raised its stake in shares of The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares during the last quarter. Public Sector Pension Investment Board raised its position in The Cigna Group by 5.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock worth $4,020,000 after purchasing an additional 600 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in The Cigna Group by 10.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 61,725 shares of the health services provider’s stock worth $21,389,000 after buying an additional 5,642 shares during the period. Captrust Financial Advisors grew its position in shares of The Cigna Group by 21.9% in the 3rd quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock valued at $10,141,000 after buying an additional 5,262 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of The Cigna Group by 22.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 507,299 shares of the health services provider’s stock valued at $175,749,000 after buying an additional 91,637 shares during the period. Institutional investors and hedge funds 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.