Jefferies Financial Group Boosts The Cigna Group (NYSE:CI) Price Target to $422.00

The Cigna Group (NYSE:CI) had its target price raised by Jefferies Financial Group from $402.00 to $422.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the health services provider’s stock.

A number of other analysts have also issued reports on CI. Robert W. Baird initiated coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an outperform rating and a $388.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an overweight rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reissued an overweight rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Monday. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $392.79.

The Cigna Group Price Performance

Shares of CI opened at $357.42 on Tuesday. The firm has a 50-day simple moving average of $346.59 and a two-hundred day simple moving average of $344.83. The stock has a market cap of $101.53 billion, a PE ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the firm earned $6.13 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after purchasing an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after buying an additional 867,180 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares during the period. Focused Investors Fund L P purchased a new stake in shares of The Cigna Group in the first quarter valued at approximately $205,529,000. Finally, Swedbank AB acquired a new position in The Cigna Group during the first quarter worth $161,300,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.