The Cigna Group (NYSE:CI) Given Average Rating of “Buy” by Brokerages

The Cigna Group (NYSE:CI) has received an average recommendation of “Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $376.20.

Several analysts have commented on CI shares. Oppenheimer boosted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday. They set an “overweight” rating and a $400.00 price target for the company. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th.

The Cigna Group Stock Down 0.4 %

NYSE CI opened at $337.59 on Thursday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $95.90 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 1.03 and a beta of 0.53. The stock’s 50-day moving average price is $342.12 and its 200-day moving average price is $332.66.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.41 earnings per share. On average, equities research analysts predict that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of The Cigna Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keynote Financial Services LLC purchased a new stake in The Cigna Group in the 1st quarter worth $677,000. Mosaic Family Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the first quarter worth about $466,000. Soltis Investment Advisors LLC boosted its holdings in The Cigna Group by 2.8% in the 1st quarter. Soltis Investment Advisors LLC now owns 2,299 shares of the health services provider’s stock worth $835,000 after buying an additional 63 shares during the last quarter. Garde Capital Inc. purchased a new stake in The Cigna Group during the 1st quarter worth approximately $112,000. Finally, Cetera Advisors LLC raised its holdings in shares of The Cigna Group by 166.6% during the first quarter. Cetera Advisors LLC now owns 25,771 shares of the health services provider’s stock valued at $9,360,000 after acquiring an additional 16,103 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.