The Cigna Group (NYSE:CI) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of The Cigna Group (NYSE:CI) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $327.00 target price on the health services provider’s stock.

CI has been the topic of a number of other reports. Sanford C. Bernstein raised their price target on shares of The Cigna Group from $326.00 to $330.00 in a research report on Tuesday, October 10th. Cantor Fitzgerald raised their price target on shares of The Cigna Group from $310.00 to $334.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. Wells Fargo & Company raised their price target on shares of The Cigna Group from $284.00 to $300.00 in a research report on Wednesday, August 9th. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a research report on Friday, November 3rd. Finally, Bank of America lifted their price objective on shares of The Cigna Group from $320.00 to $350.00 and gave the company a buy rating in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has an average rating of Moderate Buy and a consensus price target of $336.40.

The Cigna Group Price Performance

Shares of CI stock opened at $282.56 on Wednesday. The firm has a market cap of $82.68 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.02 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $340.11. The firm has a fifty day moving average of $294.98 and a two-hundred day moving average of $281.20.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.68 by $0.09. The company had revenue of $49.05 billion during the quarter, compared to analyst estimates of $48.14 billion. The Cigna Group had a net margin of 2.79% and a return on equity of 12.62%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $6.04 EPS. As a group, research analysts anticipate that The Cigna Group will post 24.82 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be paid a dividend of $1.23 per share. The ex-dividend date is Tuesday, December 5th. This represents a $4.92 annualized dividend and a yield of 1.74%. The Cigna Group’s payout ratio is 27.75%.

Insider Buying and Selling at The Cigna Group

In other news, EVP Cynthia Ryan sold 3,768 shares of The Cigna Group stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $282.22, for a total value of $1,063,404.96. Following the transaction, the executive vice president now owns 5,503 shares of the company’s stock, valued at approximately $1,553,056.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nicole S. Jones sold 7,819 shares of The Cigna Group stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $276.86, for a total value of $2,164,768.34. Following the transaction, the executive vice president now owns 30,069 shares of the company’s stock, valued at approximately $8,324,903.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cynthia Ryan sold 3,768 shares of The Cigna Group stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total transaction of $1,063,404.96. Following the completion of the transaction, the executive vice president now directly owns 5,503 shares in the company, valued at approximately $1,553,056.66. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Creative Planning increased its position in shares of The Cigna Group by 16.4% in the third quarter. Creative Planning now owns 50,805 shares of the health services provider’s stock worth $14,534,000 after acquiring an additional 7,149 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of The Cigna Group by 20.1% in the third quarter. Belpointe Asset Management LLC now owns 1,695 shares of the health services provider’s stock worth $485,000 after acquiring an additional 284 shares in the last quarter. First Foundation Advisors increased its position in shares of The Cigna Group by 8.2% in the third quarter. First Foundation Advisors now owns 1,436 shares of the health services provider’s stock worth $411,000 after acquiring an additional 109 shares in the last quarter. Morgan Stanley increased its position in shares of The Cigna Group by 4.7% in the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after acquiring an additional 225,115 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of The Cigna Group by 4.3% in the third quarter. Integrated Wealth Concepts LLC now owns 12,243 shares of the health services provider’s stock worth $3,502,000 after acquiring an additional 508 shares in the last quarter. 85.32% of the stock is owned by hedge funds and other institutional investors.

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.