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

Shares of The Cigna Group (NYSE:CI) have received an average recommendation of “Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $394.64.

A number of research analysts recently issued reports on CI shares. JPMorgan Chase & Co. raised their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently modified their holdings of the company. Ulland Investment Advisors LLC grew its position in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group during the 3rd quarter valued at about $45,000. Private Ocean LLC lifted its holdings in shares of The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after acquiring an additional 46 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in shares of The Cigna Group in the third quarter worth approximately $69,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $282.41 on Thursday. The business has a 50-day simple moving average of $322.26 and a 200-day simple moving average of $335.44. 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 one year low of $262.03 and a one year high of $370.83. The company has a market cap of $78.55 billion, a PE ratio of 26.64, a P/E/G ratio of 0.88 and a beta of 0.50.

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

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

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.