Analysts Set The Cigna Group (NYSE:CI) Target Price at $362.14

The Cigna Group (NYSE:CI) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $362.14.

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Mizuho lifted their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Barclays assumed coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Finally, Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $327.00 to $354.00 in a report on Monday, February 5th.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group 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 sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 over the last ninety days. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On The Cigna Group

Several institutional investors have recently modified their holdings of CI. Bogart Wealth LLC grew its position in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management acquired a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $26,000. Main Street Group LTD acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $28,000. Fairfield Bush & CO. acquired a new position in shares of The Cigna Group in the 2nd quarter valued at approximately $28,000. Finally, Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $29,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.3 %

Shares of CI stock opened at $348.90 on Friday. The stock has a market cap of $102.00 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The stock has a fifty day moving average price of $347.04 and a 200 day moving average price of $314.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The firm had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $4.96 earnings per share. Analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s payout ratio is currently 32.20%.

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.