The Cigna Group (NYSE:CI) Receives Consensus Rating of “Buy” from Brokerages

Shares of The Cigna Group (NYSE:CI) have been assigned a consensus rating of “Buy” from the fifteen analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $392.79.

A number of brokerages have issued reports on CI. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd.

The Cigna Group Trading Down 2.1 %

Shares of NYSE CI opened at $308.23 on Wednesday. The stock has a market capitalization of $87.56 billion, a P/E ratio of 25.31, a PEG ratio of 1.05 and a beta of 0.50. The stock’s 50 day moving average price is $347.73 and its two-hundred day moving average price is $342.16. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same period last year, the business posted $6.13 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Large investors have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC increased its stake in The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares in the last quarter. IFG Advisors LLC lifted its position in shares of The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after acquiring an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. grew its position in The Cigna Group by 4.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after purchasing an additional 31 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its stake in The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares during the period. 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.