The Cigna Group (NYSE:CI) Receives $379.33 Average Target Price from Analysts

The Cigna Group (NYSE:CI) has been given a consensus recommendation of “Buy” by the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $379.33.

CI has been the topic of a number of recent analyst reports. Truist Financial raised their price objective on The Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research note on Monday, May 12th. 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 note on Thursday, February 6th. Cowen reiterated a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Piper Sandler boosted their price objective on The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last three months. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in The Cigna Group in the fourth quarter worth about $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $724,517,000. Nuveen LLC bought a new stake in shares of The Cigna Group during the first quarter worth approximately $727,905,000. GAMMA Investing LLC lifted its holdings in The Cigna Group by 58,799.0% in the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock valued at $583,852,000 after buying an additional 1,771,613 shares during the period. Finally, Raymond James Financial Inc. bought a new position in The Cigna Group in the fourth quarter valued at approximately $313,911,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $324.75 on Friday. 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 firm has a market cap of $86.75 billion, a PE ratio of 26.53, a PEG ratio of 0.98 and a beta of 0.47. The firm’s 50 day moving average price is $325.48 and its 200 day moving average price is $310.02. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the firm earned $6.47 EPS. The Cigna Group’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

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.