Cigna Group (NYSE:CI) Upgraded by TD Cowen to Strong-Buy Rating

TD Cowen upgraded shares of Cigna Group (NYSE:CI) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on CI. Guggenheim reaffirmed a “buy” rating and set a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. Barclays restated an “overweight” rating and issued a $385.00 price objective (up from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a research report on Tuesday, June 3rd. Morgan Stanley increased their target price on Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, Cantor Fitzgerald raised their target price on Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $380.39.

Cigna Group Trading Down 0.4%

NYSE CI opened at $315.51 on Monday. The stock has a market cap of $84.29 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a 50 day simple moving average of $320.73 and a two-hundred day simple moving average of $307.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72.

Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.47 earnings per share. On average, analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Tuesday, June 3rd. Cigna Group’s dividend payout ratio is presently 33.44%.

Institutional Trading of Cigna Group

Institutional investors have recently bought and sold shares of the company. TCTC Holdings LLC bought a new position in shares of Cigna Group in the fourth quarter worth approximately $25,000. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group during the first quarter valued at approximately $28,000. 1248 Management LLC purchased a new position in Cigna Group in the 1st quarter worth approximately $29,000. Activest Wealth Management raised its holdings in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after acquiring an additional 72 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in Cigna Group in the 4th quarter valued at approximately $36,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

About 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.