The Cigna Group (NYSE:CI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

The Cigna Group (NYSE:CI) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $366.14.

Several research analysts have weighed in on CI shares. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Cantor Fitzgerald boosted their price target on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Finally, Mizuho lifted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th.

The Cigna Group Trading Up 1.3 %

Shares of CI opened at $346.70 on Wednesday. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The stock’s 50-day moving average is $350.89 and its two-hundred day moving average is $320.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $98.49 billion, a PE ratio of 28.46, a P/E/G ratio of 1.04 and a beta of 0.57.

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

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Buying and Selling

In related news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares in the company, valued at $15,180,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on 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 transaction, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold 109,277 shares of company stock worth $37,687,884 in the last three months. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners lifted its holdings in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Bogart Wealth LLC lifted its stake in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new stake in The Cigna Group in the third quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth $29,000. Finally, VisionPoint Advisory Group LLC raised its holdings in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.