The Cigna Group (NYSE:CI) Receives Average Recommendation of “Buy” from Brokerages

The Cigna Group (NYSE:CI) has received an average recommendation of “Buy” from the fifteen brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $394.64.

A number of research firms have weighed in on CI. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Te Ahumairangi Investment Management Ltd increased its holdings in The Cigna Group by 7.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider’s stock worth $7,003,000 after buying an additional 1,490 shares during the last quarter. Virtu Financial LLC increased its holdings in The Cigna Group by 39.6% during the third quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider’s stock worth $5,949,000 after buying an additional 4,870 shares during the last quarter. Advisory Resource Group increased its holdings in The Cigna Group by 2.0% during the third quarter. Advisory Resource Group now owns 13,163 shares of the health services provider’s stock worth $4,560,000 after buying an additional 263 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in The Cigna Group by 156.6% during the third quarter. Rehmann Capital Advisory Group now owns 2,209 shares of the health services provider’s stock worth $769,000 after buying an additional 1,348 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in The Cigna Group by 4.0% during the third quarter. TD Private Client Wealth LLC now owns 6,181 shares of the health services provider’s stock worth $2,141,000 after buying an additional 235 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $328.45 on Friday. The firm has a 50 day moving average of $335.43 and a 200-day moving average of $338.82. The stock has a market capitalization of $91.36 billion, a PE ratio of 30.99, a PEG ratio of 0.99 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 EPS. On average, equities research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

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.