The Cigna Group (NYSE:CI) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of The Cigna Group (NYSE:CI) in a report released on Tuesday morning, Benzinga reports. They currently have a $400.00 target price on the health services provider’s stock.

Several other research firms have also recently weighed in on CI. StockNews.com raised shares of The Cigna Group from a buy rating to a strong-buy rating in a report on Friday, August 2nd. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the company a buy rating in a research note on Tuesday, September 17th. Stephens restated an overweight rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Finally, Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an overweight rating and a $400.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $392.79.

The Cigna Group Stock Performance

Shares of CI opened at $341.53 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average price of $348.53 and a two-hundred day moving average price of $345.11. The firm has a market capitalization of $97.02 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.08 and a beta of 0.50. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the previous year, the business earned $6.13 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. Equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Cigna Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Silicon Valley Capital Partners increased its stake in shares of The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group during the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. increased its position in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the second quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Institutional investors own 86.99% of the company’s stock.

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.