The Cigna Group’s (CI) Strong-Buy Rating Reiterated at Raymond James

Raymond James reaffirmed their strong-buy rating on shares of The Cigna Group (NYSE:CI) in a research note issued to investors on Friday,Benzinga reports. Raymond James currently has a $360.00 target price on the health services provider’s stock, down from their previous target price of $415.00.

A number of other analysts have also recently weighed in on CI. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald decreased their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Piper Sandler reissued an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $293.99 on Friday. The stock has a 50 day moving average of $294.40 and a 200 day moving average of $324.33. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market cap of $81.77 billion, a PE ratio of 27.73, a PEG ratio of 0.82 and a beta of 0.54. 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 (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. During the same period in the previous year, the company earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CI. Sterling Financial Group Inc. purchased a new position in shares of The Cigna Group during the fourth quarter worth $4,367,000. Marks Group Wealth Management Inc boosted its position in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after buying an additional 23,376 shares during the period. Principal Financial Group Inc. boosted its position in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares during the period. Trinity Street Asset Management LLP boosted its position in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after buying an additional 5,397 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

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.