The Cigna Group (NYSE:CI) Receives $373.69 Consensus Target Price from Analysts

The Cigna Group (NYSE:CI) has earned a consensus rating of “Buy” from the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $373.69.

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Cantor Fitzgerald cut their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

The Cigna Group Stock Performance

NYSE:CI opened at $286.67 on Friday. The stock has a market capitalization of $79.74 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a 50 day moving average of $289.85 and a 200-day moving average of $322.63. 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 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 analysts’ consensus estimates 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 period last year, the business posted $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.75%.

Institutional Trading of The Cigna Group

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in The Cigna Group in the 4th quarter valued at $313,911,000. International Assets Investment Management LLC grew its holdings in shares of The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares in the last quarter. Amundi increased its position in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after acquiring an additional 374,865 shares during the last quarter. Swedbank AB raised its holdings in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after acquiring an additional 314,123 shares in the last quarter. Finally, FMR LLC boosted its position in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

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.