The Cigna Group (NYSE:CI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

The Cigna Group (NYSE:CI) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $366.14.

CI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $355.00 to $370.00 in a report on Thursday, February 1st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Oppenheimer lifted their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Barclays began coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. Finally, Mizuho lifted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th.

The Cigna Group Stock Up 1.3 %

The Cigna Group stock opened at $346.70 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $98.49 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.04 and a beta of 0.57. The firm has a 50 day moving average price of $350.89 and a 200-day moving average price of $320.21. 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 data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the company earned $5.41 earnings per share. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts predict that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Announces Dividend

The firm 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 $1.40 dividend. 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 1.62%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated 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 transaction, 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 SEC, which is available at this hyperlink. Also, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,277 shares of company stock valued at $37,687,884. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Large investors have recently made changes to their positions in the business. Silicon Valley Capital Partners increased its position in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Bogart Wealth LLC grew its stake in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group during the third quarter valued at $26,000. Fortitude Family Office LLC bought a new position in The Cigna Group in the 4th quarter worth about $29,000. Finally, VisionPoint Advisory Group LLC grew its position in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. 86.99% of the stock is currently 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.