The Cigna Group (NYSE:CI) Receives $373.56 Average Price Target from Brokerages

Shares of The Cigna Group (NYSE:CI) have been given a consensus rating of “Buy” by the nineteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $373.56.

A number of research analysts recently issued reports on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Stephens lowered their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Mizuho upped their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Cantor Fitzgerald increased their price target 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. Finally, Guggenheim started coverage on shares of The Cigna Group in a report on Wednesday, April 9th. They issued a “buy” rating and a $384.00 target price for the company.

The Cigna Group Trading Down 0.0 %

NYSE:CI opened at $335.60 on Wednesday. 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 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market cap of $91.85 billion, a P/E ratio of 27.42, a P/E/G ratio of 0.98 and a beta of 0.51. The stock has a 50-day simple moving average of $319.82 and a 200-day simple moving average of $310.69.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business earned $6.79 earnings per share. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is currently 49.35%.

Insider Buying and Selling

In other The Cigna Group 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 completion of the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 in the last quarter. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently modified their holdings of the stock. TCTC Holdings LLC purchased a new position in The Cigna Group in the fourth quarter valued at approximately $25,000. Collier Financial purchased a new position in The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $34,000. Putney Financial Group LLC acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $36,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $37,000. 86.99% of the stock is 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.