Cigna Group (NYSE:CI) Price Target Raised to $304.00

Cigna Group (NYSE:CI) had its target price boosted by Jefferies Financial Group from $288.00 to $304.00 in a research report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the health services provider’s stock.

A number of other equities research analysts also recently commented on the company. Robert W. Baird set a $362.00 target price on Cigna Group in a research report on Friday, July 31st. Wells Fargo & Company set a $390.00 price target on Cigna Group in a report on Wednesday. Wall Street Zen raised Cigna Group from a “hold” rating to a “buy” rating in a research note on Sunday, November 8th. UBS Group reaffirmed a “buy” rating on shares of Cigna Group in a report on Thursday, October 1st. Finally, Piper Sandler lowered their target price on Cigna Group from $370.00 to $360.00 and set an “overweight” rating for the company in a research report on Thursday. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $336.90.

Cigna Group Price Performance

Shares of NYSE:CI traded up $0.52 during midday trading on Thursday, reaching $296.79. 1,442,187 shares of the company were exchanged, compared to its average volume of 1,681,560. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $287.53 and its two-hundred day moving average is $282.70. Cigna Group has a one year low of $257.85 and a one year high of $318.05. The stock has a market cap of $78.21 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.11 and a beta of 0.25.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, November 5th. The health services provider reported $7.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.52 by $0.46. The company had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $72.64 billion. Cigna Group had a net margin of 2.09% and a return on equity of 19.57%. Cigna Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.83 EPS. As a group, analysts predict that Cigna Group will post 30.71 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $1.56 per share. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 dividend on an annualized basis and a yield of 2.1%. Cigna Group’s dividend payout ratio is 27.54%.

Insider Activity at Cigna Group

In related news, insider Nicole S. Jones sold 2,677 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the sale, the insider owned 25,880 shares in the company, valued at approximately $7,236,306.80. This represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total value of $175,258.85. Following the completion of the sale, the insider owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Institutional Trading of Cigna Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osbon Capital Management LLC bought a new position in shares of Cigna Group during the second quarter valued at approximately $26,000. Putney Financial Group LLC purchased a new position in Cigna Group during the 3rd quarter valued at $27,000. Johnson Financial Group Inc. purchased a new position in Cigna Group during the 2nd quarter valued at $29,000. Fiduciary Financial Advisors bought a new position in Cigna Group in the 2nd quarter valued at $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in Cigna Group in the 2nd quarter valued at $34,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group News Roundup

Investors following CI have been watching these news items:

• Positive Sentiment: Wells Fargo raised its price target from $307; reports give different new targets of $325 and $335, while keeping an equal-weight rating. Jefferies also lifted its target from $288 to $304, but maintained a hold rating. Wells Fargo target report Wells Fargo alternate target report Jefferies target report
• Neutral Sentiment: Analyst sentiment remains moderately bullish overall, although coverage notes Cigna has lagged industry peers and the broader market. Analyst sentiment overview
• Negative Sentiment: Piper Sandler trimmed its target from $370 to $360, though it retained an overweight rating. Separately, CIBC cited the possibility of a tougher regulatory environment after the election as a risk for corporate America. Piper Sandler target revision CIBC election-related context

About Cigna Group

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members. Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.