The Cigna Group (NYSE:CI) Upgraded at Baird R W

Baird R W upgraded shares of The Cigna Group (NYSE:CIFree Report) to a strong-buy rating in a research report report published on Thursday morning, Zacks.com reports.

Other analysts also recently issued reports about the company. Wells Fargo & Company increased their target price on The Cigna Group from $334.00 to $348.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. Morgan Stanley restated an overweight rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a hold rating to a buy rating and raised their price target for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised their price target on The Cigna Group from $432.00 to $435.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Robert W. Baird started coverage on The Cigna Group in a research note on Thursday. They issued an outperform rating and a $388.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group has a consensus rating of Buy and a consensus price target of $373.87.

Get Our Latest Stock Report on CI

The Cigna Group Stock Performance

The Cigna Group stock opened at $344.62 on Thursday. 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 $97.90 billion, a P/E ratio of 28.29, a PEG ratio of 1.01 and a beta of 0.57. The stock’s 50 day moving average is $349.19 and its 200 day moving average is $324.83. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.41 EPS. On average, equities research analysts predict that The Cigna Group will post 28.46 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company 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 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 payout ratio is 45.98%.

Insider Buying and Selling

In related news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 2,412 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $345.73, for a total value of $833,900.76. Following the transaction, the chief executive officer now owns 340,438 shares of the company’s stock, valued at approximately $117,699,629.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,366 shares of company stock worth $24,750,755. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

A number of hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at $78,000. Jump Financial LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at $723,000. Kestra Private Wealth Services LLC lifted its holdings in shares of The Cigna Group by 5.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 5,274 shares of the health services provider’s stock valued at $1,509,000 after purchasing an additional 263 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of The Cigna Group by 3.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 11,785 shares of the health services provider’s stock valued at $3,371,000 after purchasing an additional 357 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at $305,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

About The Cigna Group

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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.

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Analyst Recommendations for The Cigna Group (NYSE:CI)

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