Barclays Issues Positive Forecast for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI) had its price target boosted by Barclays from $405.00 to $420.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the health services provider’s stock.

Several other research analysts have also recently weighed in on CI. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada decreased their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Trading Up 1.9 %

NYSE CI opened at $318.34 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The firm has a market capitalization of $88.55 billion, a PE ratio of 30.03, a P/E/G ratio of 0.96 and a beta of 0.51. The stock’s 50 day moving average is $344.23 and its 200 day moving average is $340.99.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the company posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.76%. The Cigna Group’s payout ratio is currently 52.83%.

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 on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of The Cigna Group

Institutional investors have recently made changes to their positions in the business. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group in the 1st quarter worth $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group during the 3rd quarter worth about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group during the 2nd quarter worth about $66,000. Institutional investors and hedge funds 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.