The Cigna Group (NYSE:CI) Receives $373.25 Average Target Price from Analysts

The Cigna Group (NYSE:CI) has received an average rating of “Buy” from the seventeen research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $373.25.

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. Truist Financial lowered their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Stephens reduced their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd.

Insiders Place Their Bets

In other news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in shares of The Cigna Group by 56.3% in the 3rd quarter. Larson Financial Group LLC now owns 261 shares of the health services provider’s stock valued at $90,000 after purchasing an additional 94 shares during the period. Loomis Sayles & Co. L P lifted its stake in The Cigna Group by 21.2% in the third quarter. Loomis Sayles & Co. L P now owns 246 shares of the health services provider’s stock valued at $85,000 after buying an additional 43 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after buying an additional 35 shares in the last quarter. Fiduciary Trust Co grew its position in shares of The Cigna Group by 2.0% during the 3rd quarter. Fiduciary Trust Co now owns 19,946 shares of the health services provider’s stock worth $6,910,000 after buying an additional 387 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of The Cigna Group by 5.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock valued at $4,020,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $322.02 on Friday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company’s 50 day moving average price is $308.72 and its two-hundred day moving average price is $313.00. The firm has a market cap of $88.13 billion, a PE ratio of 26.31, a PEG ratio of 0.98 and a beta of 0.50. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the business posted $6.79 EPS. Equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

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.