The Cigna Group (NYSE:CI) Price Target Raised to $374.00

The Cigna Group (NYSE:CI) had its price objective boosted by Piper Sandler from $348.00 to $374.00 in a report released on Monday morning, MarketBeat.com reports. They currently have an overweight rating on the health services provider’s stock.

A number of other equities research analysts have also recently weighed in on CI. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Mizuho increased their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Barclays lifted their price objective on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Truist Financial raised their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $378.22.

The Cigna Group Stock Performance

The Cigna Group stock opened at $334.55 on Monday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company’s 50-day moving average is $324.90 and its 200 day moving average is $309.92. The firm has a market capitalization of $89.37 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period last year, the company posted $6.47 earnings per share. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. Research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Several hedge funds have recently modified their holdings of the company. Family Legacy Inc. lifted its holdings in The Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider’s stock valued at $2,138,000 after acquiring an additional 31 shares during the period. Impact Investors Inc increased its holdings in shares of The Cigna Group by 1.6% in the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider’s stock valued at $650,000 after purchasing an additional 31 shares in the last quarter. Mission Wealth Management LP lifted its stake in shares of The Cigna Group by 1.5% in the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock valued at $691,000 after purchasing an additional 32 shares during the period. Westend Capital Management LLC boosted its holdings in The Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider’s stock worth $140,000 after buying an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division grew its position in The Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock worth $1,509,000 after buying an additional 34 shares during the period. 86.99% of the stock is owned by hedge funds and other 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.