The Cigna Group (NYSE:CI) Given New $390.00 Price Target at Morgan Stanley

The Cigna Group (NYSE:CI) had its price target upped by Morgan Stanley from $379.00 to $390.00 in a research note issued to investors on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the health services provider’s stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Truist Financial raised their price objective on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $378.00.

The Cigna Group Price Performance

CI opened at $332.99 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market cap of $91.13 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The stock has a fifty day simple moving average of $323.77 and a two-hundred day simple moving average of $309.57. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The Cigna Group’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business earned $6.47 EPS. Research analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s payout ratio is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last quarter. Company insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CI. OneAscent Wealth Management LLC grew its holdings in The Cigna Group by 5.3% during the 1st quarter. OneAscent Wealth Management LLC now owns 1,049 shares of the health services provider’s stock valued at $345,000 after buying an additional 53 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of The Cigna Group by 16.9% during the first quarter. GW&K Investment Management LLC now owns 276 shares of the health services provider’s stock worth $91,000 after acquiring an additional 40 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in The Cigna Group by 380.7% during the first quarter. Los Angeles Capital Management LLC now owns 121,270 shares of the health services provider’s stock valued at $39,898,000 after acquiring an additional 96,042 shares in the last quarter. Wealth Alliance LLC increased its holdings in The Cigna Group by 7.3% in the 1st quarter. Wealth Alliance LLC now owns 2,105 shares of the health services provider’s stock valued at $693,000 after acquiring an additional 143 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in The Cigna Group by 3.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 21,462 shares of the health services provider’s stock worth $7,061,000 after purchasing an additional 778 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

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.