The Cigna Group’s (CI) Overweight Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of The Cigna Group (NYSE:CI) in a report published on Friday morning, Benzinga reports. They currently have a $410.00 target price on the health services provider’s stock.

Other research analysts have also issued research reports about the company. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Barclays lifted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $394.00.

The Cigna Group Stock Down 1.3 %

The Cigna Group stock opened at $312.32 on Friday. The firm has a 50 day moving average price of $344.94 and a two-hundred day moving average price of $341.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.72. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a market cap of $87.31 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 0.95 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its earnings results 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 return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the company earned $6.77 EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.79%. The Cigna Group’s dividend payout ratio is 52.83%.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors have recently added to or reduced their stakes in the business. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group in the 1st quarter worth about $29,000. TruNorth Capital Management LLC bought a new position in The Cigna Group during the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC lifted its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group during the 2nd quarter valued at $66,000. 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.