The Cigna Group (NYSE:CI) Price Target Raised to $382.00 at Barclays

The Cigna Group (NYSE:CI) had its price target hoisted by Barclays from $339.00 to $382.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the health services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Oppenheimer lowered their price objective on 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. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Truist Financial upped their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $378.00.

The Cigna Group Price Performance

Shares of NYSE CI opened at $332.99 on Monday. The business has a 50 day simple moving average of $323.77 and a 200-day simple moving average of $309.57. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market capitalization 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 company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the firm earned $6.47 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

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

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the 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 sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Hedge funds have recently modified their holdings of the stock. TCTC Holdings LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $25,000. Collier Financial purchased a new stake in The Cigna Group during the fourth quarter valued at about $32,000. Wayfinding Financial LLC purchased a new stake in The Cigna Group during the first quarter valued at about $40,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth about $34,000. Finally, Putney Financial Group LLC purchased a new position in shares of The Cigna Group in the fourth quarter worth approximately $36,000. 86.99% of the stock is currently 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.