The Cigna Group (NYSE:CI) Price Target Raised to $420.00

The Cigna Group (NYSE:CI) had its target price raised by Barclays from $405.00 to $420.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the health services provider’s stock.

Several other research firms also recently commented on CI. Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Trading Down 0.5 %

Shares of CI traded down $1.61 during midday trading on Tuesday, hitting $317.88. The stock had a trading volume of 79,980 shares, compared to its average volume of 1,529,450. 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 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50 day moving average is $343.37 and its 200 day moving average is $340.80. The firm has a market cap of $88.42 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 0.95 and a beta of 0.51.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 52.83%.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Hedge funds have recently bought and sold shares of the business. Cedar Wealth Management LLC acquired a new position in The Cigna Group during the first quarter worth $29,000. TruNorth Capital Management LLC acquired a new stake in The Cigna Group during the second quarter worth about $33,000. Ulland Investment Advisors LLC boosted its holdings in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group during the 2nd quarter worth approximately $66,000. 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.