Cigna Group (NYSE:CI) Receives $339.73 Consensus Price Target from Brokerages

Cigna Group (NYSE:CI) has been given an average rating of “Moderate Buy” by the twenty-four brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $339.7273.

A number of brokerages recently weighed in on CI. Wolfe Research reduced their target price on Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cigna Group in a research note on Wednesday, October 8th. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research report on Thursday, August 14th. Barclays reduced their price target on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the transaction, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani purchased 4,134 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $241.88 per share, with a total value of $999,931.92. Following the acquisition, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cigna Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CI. MAI Capital Management boosted its position in Cigna Group by 52.5% in the 3rd quarter. MAI Capital Management now owns 14,124 shares of the health services provider’s stock valued at $4,071,000 after buying an additional 4,860 shares during the last quarter. RWA Wealth Partners LLC lifted its stake in shares of Cigna Group by 816.2% in the third quarter. RWA Wealth Partners LLC now owns 22,666 shares of the health services provider’s stock worth $6,534,000 after acquiring an additional 20,192 shares in the last quarter. Affinity Investment Advisors LLC boosted its holdings in Cigna Group by 3.3% in the third quarter. Affinity Investment Advisors LLC now owns 4,101 shares of the health services provider’s stock valued at $1,182,000 after purchasing an additional 130 shares during the last quarter. Palumbo Wealth Management LLC grew its stake in Cigna Group by 2.3% during the 3rd quarter. Palumbo Wealth Management LLC now owns 1,927 shares of the health services provider’s stock valued at $524,000 after purchasing an additional 43 shares in the last quarter. Finally, Mufg Securities Americas Inc. grew its stake in Cigna Group by 21.6% during the 3rd quarter. Mufg Securities Americas Inc. now owns 7,199 shares of the health services provider’s stock valued at $2,075,000 after purchasing an additional 1,279 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Price Performance

Cigna Group stock opened at $267.82 on Friday. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a 50 day moving average price of $291.71 and a 200 day moving average price of $302.28. The company has a market cap of $71.54 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.88 and a beta of 0.44.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. The company had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts predict 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 will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, December 4th. Cigna Group’s dividend payout ratio is currently 26.64%.

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.