Oppenheimer Raises The Cigna Group (NYSE:CI) Price Target to $400.00

The Cigna Group (NYSE:CI) had its target price raised by Oppenheimer from $370.00 to $400.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an outperform rating on the health services provider’s stock.

A number of other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a hold rating to a buy rating and lifted their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Sanford C. Bernstein upgraded The Cigna Group from a market perform rating to an outperform rating and lifted their price target for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Royal Bank of Canada upgraded The Cigna Group from a sector perform rating to an outperform rating and lifted their price target for the company from $327.00 to $354.00 in a report on Monday, February 5th. Cantor Fitzgerald reiterated an overweight rating and issued a $384.00 price target on shares of The Cigna Group in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $366.14.

The Cigna Group Trading Down 0.9 %

Shares of NYSE CI opened at $341.50 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 0.71. The business’s 50 day moving average price is $350.77 and its 200-day moving average price is $319.71. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The company has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business posted $5.41 EPS. On average, sell-side analysts expect that The Cigna Group will post 28.45 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s payout ratio is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Cigna Group

A number of large investors have recently bought and sold shares of the business. Howland Capital Management LLC raised its holdings in The Cigna Group by 359.8% in the 1st quarter. Howland Capital Management LLC now owns 7,601 shares of the health services provider’s stock worth $2,761,000 after purchasing an additional 5,948 shares during the period. SPC Financial Inc. raised its holdings in The Cigna Group by 47.1% in the 1st quarter. SPC Financial Inc. now owns 5,085 shares of the health services provider’s stock worth $1,847,000 after purchasing an additional 1,629 shares during the period. McClarren Financial Advisors Inc. raised its holdings in The Cigna Group by 419.3% in the 1st quarter. McClarren Financial Advisors Inc. now owns 727 shares of the health services provider’s stock worth $264,000 after purchasing an additional 587 shares during the period. 9258 Wealth Management LLC raised its holdings in The Cigna Group by 3.1% in the 1st quarter. 9258 Wealth Management LLC now owns 5,525 shares of the health services provider’s stock worth $2,007,000 after purchasing an additional 167 shares during the period. Finally, WBI Investments LLC raised its holdings in The Cigna Group by 102.6% in the 1st quarter. WBI Investments LLC now owns 6,247 shares of the health services provider’s stock worth $2,269,000 after purchasing an additional 3,164 shares during the period. Institutional investors and hedge funds 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.