The Cigna Group (NYSE:CI) Price Target Raised to $384.00

The Cigna Group (NYSE:CI) had its price objective upped by Mizuho from $360.00 to $384.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the health services provider’s stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company decreased their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Barclays lowered their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. Finally, Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $375.00.

The Cigna Group Stock Performance

NYSE CI opened at $329.52 on Wednesday. The firm has a 50-day moving average price of $312.04 and a two-hundred day moving average price of $311.31. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market capitalization of $90.18 billion, a P/E ratio of 26.92, a P/E/G ratio of 0.98 and a beta of 0.51. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm earned $6.79 earnings per share. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.83%. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CI. TCTC Holdings LLC bought a new stake in The Cigna Group in the fourth quarter worth approximately $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at $34,000. Putney Financial Group LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at $36,000. Finally, Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the fourth quarter worth $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

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.