The Cigna Group (NYSE:CI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of The Cigna Group (NYSE:CI) from a buy rating to a strong-buy rating in a report issued on Saturday.

Other equities research analysts have also issued reports about the company. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Stephens lowered their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Stock Up 1.3 %

The Cigna Group stock opened at $329.33 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $305.58 and its two-hundred day moving average price is $313.24. The firm has a market capitalization of $90.13 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

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

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.83%. The Cigna Group’s dividend payout ratio is 49.35%.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Cigna Group

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in The Cigna Group in the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of The Cigna Group in the fourth quarter worth $724,517,000. Raymond James Financial Inc. bought a new stake in The Cigna Group during the fourth quarter valued at $313,911,000. GQG Partners LLC grew its position in The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after buying an additional 737,099 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in The Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider’s stock worth $225,385,000 after buying an additional 600,300 shares in the last quarter. Hedge funds and other institutional investors 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.