The Cigna Group (NYSE:CI) Lowered to Buy Rating by StockNews.com

StockNews.com lowered shares of The Cigna Group (NYSE:CI) from a strong-buy rating to a buy rating in a report released on Monday morning.

CI has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

Shares of NYSE CI opened at $315.09 on Monday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. 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 business’s 50 day moving average price is $343.37 and its 200 day moving average price is $340.80.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

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

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Hedge funds have recently bought and sold shares of the business. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the first quarter worth about $29,000. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the 3rd quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group in the second quarter valued at $66,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.