The Cigna Group (NYSE:CI) Price Target Cut to $362.00 by Analysts at Robert W. Baird

The Cigna Group (NYSE:CI) had its price target trimmed by Robert W. Baird from $388.00 to $362.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the health services provider’s stock.

CI has been the topic of a number of other reports. UBS Group decreased their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Stephens decreased their target price on 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. Truist Financial boosted their price target on The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Mizuho increased their price objective on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $373.56.

The Cigna Group Stock Up 0.2 %

The Cigna Group stock opened at $329.97 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market capitalization of $90.30 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The business has a 50 day simple moving average of $315.18 and a 200-day simple moving average of $311.07. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last issued 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the business posted $6.79 earnings per share. On average, analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business’s 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 in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kaydan Wealth Management Inc. acquired a new position in The Cigna Group during the 1st quarter worth about $223,000. Inscription Capital LLC purchased a new stake in The Cigna Group during the first quarter worth about $1,827,000. Claris Advisors LLC MO increased its stake in The Cigna Group by 12.2% during the first quarter. Claris Advisors LLC MO now owns 923 shares of the health services provider’s stock worth $304,000 after purchasing an additional 100 shares during the period. QRG Capital Management Inc. lifted its position in shares of The Cigna Group by 6.4% during the first quarter. QRG Capital Management Inc. now owns 68,812 shares of the health services provider’s stock worth $22,639,000 after purchasing an additional 4,159 shares in the last quarter. Finally, Sentry LLC purchased a new position in shares of The Cigna Group in the first quarter valued at approximately $216,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

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.