The Cigna Group (NYSE:CI) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of The Cigna Group (NYSE:CI) in a report published on Tuesday morning, Benzinga reports. They currently have a $400.00 target price on the health services provider’s stock.

CI has been the subject of several other reports. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an overweight rating and a $400.00 target price for the company. Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an outperform rating and set a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. Stephens reiterated an overweight rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, StockNews.com upgraded The Cigna Group from a buy rating to a strong-buy rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $392.79.

The Cigna Group Stock Down 0.0 %

NYSE:CI opened at $340.57 on Tuesday. The firm has a market capitalization of $96.75 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock’s 50 day moving average price is $348.58 and its two-hundred day moving average price is $345.19. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the previous year, the company posted $6.13 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities research analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders 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 dividend yield of 1.64%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The stock was 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 of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors have recently modified their holdings of CI. Silicon Valley Capital Partners increased its holdings in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the 1st quarter worth about $29,000. Raleigh Capital Management Inc. increased its holdings in The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in The Cigna Group in the 2nd quarter worth about $33,000. Finally, Pineridge Advisors LLC acquired a new position in The Cigna Group in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.