The Cigna Group (NYSE:CI) Receives $362.14 Consensus Price Target from Brokerages

The Cigna Group (NYSE:CI) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $362.14.

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their target price for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th.

The Cigna Group Stock Performance

NYSE CI opened at $345.86 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average is $347.73 and its two-hundred day moving average is $314.79. The firm has a market capitalization of $101.12 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $1.40 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 annualized dividend and a yield of 1.62%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Insiders Place Their Bets

In related news, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Large investors have recently modified their holdings of the company. Bogart Wealth LLC boosted its holdings in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the period. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $26,000. Main Street Group LTD acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $29,000. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 41 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

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.