The Cigna Group (NYSE:CI) Receives Consensus Rating of “Buy” from Brokerages

Shares of The Cigna Group (NYSE:CI) have been given a consensus rating of “Buy” by the seventeen brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $372.31.

A number of equities research analysts recently commented on the company. Stephens lowered their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial lowered their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently added to or reduced their stakes in the company. Swedbank AB boosted its stake in The Cigna Group by 26.6% in the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after purchasing an additional 119,681 shares during the period. Farther Finance Advisors LLC boosted its stake in The Cigna Group by 42.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,877 shares of the health services provider’s stock worth $650,000 after purchasing an additional 555 shares during the period. Pure Financial Advisors LLC boosted its stake in The Cigna Group by 6.3% in the 3rd quarter. Pure Financial Advisors LLC now owns 898 shares of the health services provider’s stock worth $311,000 after purchasing an additional 53 shares during the period. Janney Montgomery Scott LLC boosted its stake in The Cigna Group by 4.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 31,664 shares of the health services provider’s stock worth $10,970,000 after purchasing an additional 1,372 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $311.50 on Tuesday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The business’s fifty day moving average is $290.14 and its 200 day moving average is $318.34. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a market cap of $86.64 billion, a P/E ratio of 25.45, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm earned $6.79 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.94%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

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.