The Cigna Group’s (CI) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of The Cigna Group (NYSE:CI) in a report published on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $400.00 target price on the health services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Barclays raised their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Up 0.0 %

Shares of The Cigna Group stock opened at $317.61 on Wednesday. The firm has a market cap of $90.22 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.05 and a beta of 0.50. The stock’s 50-day moving average is $349.85 and its 200 day moving average is $343.40. 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 has a one year low of $253.95 and a one year 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 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.13 EPS. Equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.76%. The Cigna Group’s payout ratio is presently 45.98%.

Insider Transactions at The Cigna Group

In other The Cigna Group 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 transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Cigna Group

Several institutional investors have recently made changes to their positions in CI. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group during the first quarter valued at about $29,000. TruNorth Capital Management LLC bought a new stake in The Cigna Group during the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC lifted its stake in 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 purchasing an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group in the 2nd quarter valued at $66,000. Finally, Private Ocean LLC grew its position in shares of The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.