The Cigna Group (NYSE:CI) Stock Rating Reaffirmed by Stephens

Stephens reaffirmed 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.

CI has been the topic of several other reports. Oppenheimer upped their target price on The Cigna Group from $370.00 to $400.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an overweight rating in a report on Friday. StockNews.com lowered The Cigna Group from a strong-buy rating to a buy rating in a report on Saturday, July 20th. Cantor Fitzgerald reissued an overweight rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on The Cigna Group from $432.00 to $435.00 and gave the company an overweight rating in a report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and an average target price of $381.00.

The Cigna Group Trading Down 3.4 %

Shares of NYSE:CI opened at $325.88 on Friday. The business’s 50-day moving average is $335.80 and its 200 day moving average is $339.17. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The firm has a market capitalization of $92.57 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.02 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the company posted $6.13 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.72%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds and other institutional investors have recently made changes to their positions in CI. Trust Point Inc. purchased a new position in shares of The Cigna Group in the fourth quarter valued at approximately $586,000. WealthShield Partners LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $201,000. Breakwater Capital Group increased its holdings in shares of The Cigna Group by 3.5% in the fourth quarter. Breakwater Capital Group now owns 1,144 shares of the health services provider’s stock valued at $349,000 after purchasing an additional 39 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in shares of The Cigna Group by 249.2% in the fourth quarter. SteelPeak Wealth LLC now owns 3,855 shares of the health services provider’s stock valued at $1,154,000 after purchasing an additional 2,751 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of The Cigna Group by 3.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 121,836 shares of the health services provider’s stock valued at $36,478,000 after purchasing an additional 3,925 shares during 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.