The Cigna Group (NYSE:CI) Given Consensus Rating of “Buy” by Analysts

The Cigna Group (NYSE:CI) has been given an average rating of “Buy” by the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $372.31.

Several equities analysts have recently commented on the stock. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Wells Fargo & Company decreased their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Barclays decreased their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Morgan Stanley decreased their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Hedge funds have recently made changes to their positions in the stock. Sterling Financial Group Inc. acquired a new position in The Cigna Group in the fourth quarter worth approximately $4,367,000. Marks Group Wealth Management Inc increased its holdings in The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after buying an additional 23,376 shares during the last quarter. Principal Financial Group Inc. increased its holdings in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares during the last quarter. Finally, Valley Wealth Managers Inc. increased its holdings in The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after buying an additional 1,548 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 1.9 %

The Cigna Group stock opened at $321.48 on Tuesday. The company has a 50-day simple moving average of $292.84 and a 200-day simple moving average of $317.71. The firm has a market capitalization of $87.98 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the business posted $6.79 EPS. As a group, equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.