Oppenheimer Raises The Cigna Group (NYSE:CI) Price Target to $400.00

The Cigna Group (NYSE:CI) had its price target raised by Oppenheimer from $370.00 to $400.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the health services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Morgan Stanley restated an overweight rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Mizuho lifted their price objective on The Cigna Group from $360.00 to $370.00 and gave the stock a buy rating in a research report on Monday, February 5th. Sanford C. Bernstein upgraded The Cigna Group from a market perform rating to an outperform rating and lifted their price objective for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a hold rating to a buy rating and lifted their price objective for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of Buy and a consensus price target of $366.14.

The Cigna Group Price Performance

CI stock opened at $341.50 on Friday. The firm has a 50 day moving average of $350.77 and a 200-day moving average of $319.71. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The company has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period last year, the firm earned $5.41 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts expect that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In other news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Institutional investors have recently added to or reduced their stakes in the business. Roman Butler Fullerton & Co. boosted its position in The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after purchasing an additional 3,539 shares during the period. Ellsworth Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter worth $4,377,000. Sapient Capital LLC purchased a new stake in The Cigna Group during the 4th quarter worth $2,811,000. Allspring Global Investments Holdings LLC lifted its holdings in The Cigna Group by 29.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after buying an additional 66,891 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in The Cigna Group in the 4th quarter worth $2,244,000. 86.99% of the stock is owned by hedge funds and other 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.