Brokerages Set The Cigna Group (NYSE:CI) Target Price at $394.64

Shares of The Cigna Group (NYSE:CI) have earned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $394.64.

A number of brokerages have weighed in on CI. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

The Cigna Group Trading Up 0.4 %

Shares of CI opened at $336.50 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a market cap of $93.60 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.00 and a beta of 0.51. The business’s fifty day moving average is $333.52 and its 200-day moving average is $338.51.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.77 earnings per share. Equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared 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 yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Synovus Financial Corp grew its position in The Cigna Group by 3.0% in the 3rd quarter. Synovus Financial Corp now owns 6,994 shares of the health services provider’s stock valued at $2,424,000 after purchasing an additional 206 shares during the period. Tidal Investments LLC grew its holdings in shares of The Cigna Group by 11.3% during the third quarter. Tidal Investments LLC now owns 15,520 shares of the health services provider’s stock valued at $5,377,000 after buying an additional 1,576 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of The Cigna Group by 164.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 14,880 shares of the health services provider’s stock valued at $5,155,000 after buying an additional 9,248 shares during the last quarter. World Investment Advisors LLC acquired a new position in The Cigna Group during the 3rd quarter valued at about $561,000. Finally, Sanctuary Advisors LLC increased its holdings in The Cigna Group by 24.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 48,860 shares of the health services provider’s stock worth $16,048,000 after purchasing an additional 9,661 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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.