The Cigna Group (NYSE:CI) Receives “Buy” Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of The Cigna Group (NYSE:CI) in a research report released on Monday,Benzinga reports.

A number of other brokerages also recently commented on CI. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Barclays upped their price objective on The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Stephens cut their price objective 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. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $378.00.

The Cigna Group Trading Down 0.5 %

Shares of The Cigna Group stock opened at $332.99 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $323.77 and its 200-day simple moving average is $309.57. The stock has a market cap of $91.13 billion, a P/E ratio of 27.21, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the company posted $6.47 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal 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 given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis 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 is currently 49.35%.

Insider Activity at The Cigna Group

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

Institutional Trading of The Cigna Group

A number of institutional investors have recently bought and sold shares of the business. Family Legacy Inc. raised its position in shares of The Cigna Group by 0.5% during the 1st 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 in the last quarter. Impact Investors Inc lifted 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 buying an additional 31 shares during the last quarter. Mission Wealth Management LP boosted its holdings in shares of The Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock valued at $691,000 after buying an additional 32 shares in the last quarter. Westend Capital Management LLC grew its position in shares of The Cigna Group by 8.1% in the 1st 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 during the last quarter. Finally, Moody National Bank Trust Division raised its stake in The Cigna Group by 0.7% during the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock worth $1,509,000 after acquiring an additional 34 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.