The Cigna Group (NYSE:CI) Price Target Raised to $374.00 at Piper Sandler

The Cigna Group (NYSE:CI) had its price objective upped by Piper Sandler from $348.00 to $374.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the health services provider’s stock.

A number of other research analysts also recently issued reports on the company. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a report on Thursday, February 6th. Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald boosted their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $378.00.

The Cigna Group Stock Performance

Shares of CI opened at $332.99 on Monday. The firm’s 50 day moving average price is $323.77 and its two-hundred day moving average price is $309.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market cap of $91.13 billion, a P/E ratio of 27.21, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.47 EPS. On average, analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently modified their holdings of CI. Family Legacy Inc. increased its position in The Cigna Group by 0.5% during the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider’s stock worth $2,138,000 after acquiring an additional 31 shares during the period. Impact Investors Inc grew its position in shares of The Cigna Group by 1.6% during the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider’s stock worth $650,000 after purchasing an additional 31 shares in the last quarter. Mission Wealth Management LP increased its holdings in shares of The Cigna Group by 1.5% during the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock worth $691,000 after purchasing an additional 32 shares during the period. Westend Capital Management LLC raised its position in shares of The Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider’s stock valued at $140,000 after buying an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of The Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock valued at $1,509,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds 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.