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

The Cigna Group (NYSE:CI) had its price target hoisted by Cantor Fitzgerald from $384.00 to $400.00 in a research report released on Friday, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the health services provider’s stock. Cantor Fitzgerald also issued estimates for The Cigna Group’s FY2024 earnings at $28.45 EPS.

A number of other equities analysts have also commented on CI. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a hold rating to a buy rating and boosted their price target for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an overweight rating and a $393.00 price target on the stock. Royal Bank of Canada upgraded shares of The Cigna Group from a sector perform rating to an outperform rating and boosted their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a research report on Thursday, March 14th. Finally, Morgan Stanley restated an overweight rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $366.14.

The Cigna Group Price Performance

NYSE:CI opened at $341.50 on Friday. The company has a 50-day moving average of $350.77 and a 200-day moving average of $319.71. The company has a market capitalization 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 has a 52 week low of $240.50 and a 52 week high of $365.71. 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 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 analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned $5.41 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, 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. Insiders sold a total of 114,144 shares of company stock valued at $39,296,330 over the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Large investors have recently bought and sold shares of the company. Roman Butler Fullerton & Co. increased its stake in The Cigna Group by 61.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after purchasing an additional 3,539 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $4,377,000. Sapient Capital LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $2,811,000. Allspring Global Investments Holdings LLC increased its position in shares of The Cigna Group by 29.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after acquiring an additional 66,891 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $2,244,000. Institutional investors own 86.99% of the company’s stock.

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.