The Cigna Group (NYSE:CI) Given Average Recommendation of “Buy” by Analysts

The Cigna Group (NYSE:CI) has been given a consensus rating of “Buy” by the seventeen research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $373.25.

A number of research analysts recently weighed in on the company. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. UBS Group reduced their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Stephens dropped their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Raymond James restated a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $332.09 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market capitalization of $90.89 billion, a P/E ratio of 27.13, a P/E/G ratio of 0.98 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $307.29 and a two-hundred day simple moving average of $313.13.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 prior year, the business posted $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth $25,000. Collier Financial bought a new position in The Cigna Group in the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter worth $34,000. Putney Financial Group LLC bought a new stake in The Cigna Group during the fourth quarter valued at about $36,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the fourth quarter valued at about $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.