The Cigna Group (NYSE:CI) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of The Cigna Group (NYSE:CI) in a research note published on Tuesday morning,Benzinga reports. They currently have a $371.00 target price on the health services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Guggenheim reaffirmed a “buy” rating and set a $388.00 price target on shares of The Cigna Group in a report on Friday, May 23rd. Cowen reiterated a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Truist Financial upped their target price on The Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, Cantor Fitzgerald raised their target price on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $380.39.

The Cigna Group Stock Down 1.0%

Shares of CI opened at $311.77 on Tuesday. 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 has a 12 month low of $262.03 and a 12 month high of $370.83. The firm’s 50 day moving average is $324.44 and its 200-day moving average is $309.30. The stock has a market capitalization of $83.29 billion, a PE ratio of 25.47, a P/E/G ratio of 0.98 and a beta of 0.47.

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 analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.47 earnings per share. Equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 annualized dividend and a yield of 1.94%. The Cigna Group’s dividend payout ratio is presently 33.44%.

Insider Transactions at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the business’s 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 transaction, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

A number of large investors have recently bought and sold shares of the business. Two Sigma Investments LP grew its stake in The Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock worth $211,219,000 after purchasing an additional 188,235 shares during the period. Valley Wealth Managers Inc. increased its stake in shares of The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after acquiring an additional 1,548 shares in the last quarter. Humankind Investments LLC increased its stake in shares of The Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after acquiring an additional 571 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of The Cigna Group by 11.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 35,056 shares of the health services provider’s stock valued at $9,680,000 after acquiring an additional 3,484 shares during the period. Finally, Aubrey Capital Management Ltd boosted its stake in The Cigna Group by 91.8% during the fourth quarter. Aubrey Capital Management Ltd now owns 1,849 shares of the health services provider’s stock worth $511,000 after acquiring an additional 885 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.