The Cigna Group (NYSE:CI) Cut to Buy at StockNews.com

StockNews.com lowered shares of The Cigna Group (NYSE:CI) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

Other analysts have also recently issued reports about the company. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday. Barclays raised their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Price Performance

CI stock opened at $315.09 on Monday. The firm’s fifty day moving average is $343.37 and its 200 day moving average is $340.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The firm has a market cap of $87.64 billion, a P/E ratio of 29.73, a P/E/G ratio of 0.96 and a beta of 0.51.

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

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.78%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated 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 approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds have recently modified their holdings of CI. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the 1st quarter worth about $29,000. TruNorth Capital Management LLC purchased a new stake in The Cigna Group in the second quarter worth about $33,000. Ulland Investment Advisors LLC boosted 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 valued at $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the 3rd quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group in the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors 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.