The Cigna Group (NYSE:CI) Price Target Increased to $400.00 by Analysts at Cantor Fitzgerald

The Cigna Group (NYSE:CI) had its price target upped by Cantor Fitzgerald from $384.00 to $400.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the health services provider’s stock. Cantor Fitzgerald also issued estimates for The Cigna Group’s FY2024 earnings at $28.45 EPS.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Thursday, February 1st. StockNews.com raised shares of The Cigna Group from a buy rating to a strong-buy rating in a report on Thursday, March 14th. Oppenheimer boosted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an outperform rating in a report on Friday. Royal Bank of Canada raised shares of The Cigna Group from a sector perform rating to an outperform rating and boosted their price target for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Finally, Mizuho upped their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a buy rating in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $366.14.

The Cigna Group Stock Performance

NYSE:CI opened at $341.50 on Friday. The firm has a market capitalization of $99.84 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57. The company has a fifty day moving average of $350.77 and a 200-day moving average of $319.71. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

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

The Cigna Group Announces Dividend

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 given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. increased its stake in The Cigna Group by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 3,848 shares of the health services provider’s stock worth $1,101,000 after acquiring an additional 88 shares during the last quarter. Dakota Wealth Management increased its stake in The Cigna Group by 9.7% in the 3rd quarter. Dakota Wealth Management now owns 1,005 shares of the health services provider’s stock worth $288,000 after acquiring an additional 89 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in The Cigna Group by 26.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,762 shares of the health services provider’s stock worth $1,935,000 after acquiring an additional 1,407 shares during the last quarter. Stratos Wealth Advisors LLC increased its stake in The Cigna Group by 59.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,406 shares of the health services provider’s stock worth $688,000 after acquiring an additional 900 shares during the last quarter. Finally, E&G Advisors LP increased its stake in The Cigna Group by 1.8% in the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock worth $611,000 after acquiring an additional 37 shares during the last quarter. 86.99% of the stock is 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.