Cigna Group (NYSE:CI) Given “Outperform” Rating at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Cigna Group (NYSE:CI) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $371.00 price objective on the health services provider’s stock.

Other analysts have also issued reports about the stock. Cowen reiterated a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Robert W. Baird cut their target price on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen raised Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Truist Financial raised their price target on Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, Guggenheim reiterated a “buy” rating and set a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $380.39.

Cigna Group Trading Up 4.0%

NYSE:CI opened at $328.66 on Thursday. The company’s 50 day moving average price is $320.71 and its 200-day moving average price is $307.71. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a market cap of $87.80 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 0.94 and a beta of 0.44.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (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. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $6.47 EPS. On average, equities research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Institutional Trading of Cigna Group

Several institutional investors and hedge funds have recently made changes to their positions in CI. Price T Rowe Associates Inc. MD raised its holdings in shares of Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Cigna Group by 0.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock worth $3,834,493,000 after purchasing an additional 98,715 shares during the period. Dodge & Cox boosted its stake in shares of Cigna Group by 1.3% during the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider’s stock valued at $2,924,722,000 after purchasing an additional 117,125 shares in the last quarter. Sanders Capital LLC boosted its stake in shares of Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock valued at $2,224,296,000 after purchasing an additional 154,420 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock valued at $1,640,878,000 after buying an additional 101,737 shares during the period. 86.99% of the stock is currently owned by institutional investors.

About 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.