The Cigna Group (NYSE:CI) Receives Strong-Buy Rating from Raymond James

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

A number of other equities analysts have also issued reports on CI. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada lowered their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial lowered their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald dropped their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $380.27.

The Cigna Group Stock Up 3.9 %

CI opened at $293.99 on Friday. The business’s 50-day simple moving average is $294.40 and its 200-day simple moving average is $324.33. 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 stock has a market capitalization of $81.77 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 0.82 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its earnings results 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 18.42% and a net margin of 1.31%. During the same period last year, the firm posted $6.79 EPS. Analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 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 is 49.35%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its position 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 worth $138,590,000 after buying an additional 399,230 shares during the period. Swedbank AB raised its position in shares of The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares during the period. FMR LLC raised its position in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the period. Raymond James & Associates raised its position in shares of The Cigna Group by 42.8% in the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after buying an additional 257,711 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after purchasing an additional 202,161 shares in the last quarter. Hedge funds and other institutional investors 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.