The Cigna Group (NYSE:CI) Price Target Increased to $422.00 by Analysts at Jefferies Financial Group

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

Several other analysts also recently issued reports on CI. Royal Bank of Canada reaffirmed an outperform rating and issued a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. Baird R W upgraded The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Stephens reissued an overweight rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Barclays upped their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. One equities research 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. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of Buy and a consensus price target of $392.79.

The Cigna Group Stock Performance

CI opened at $357.42 on Tuesday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The stock has a market cap of $101.53 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50. The stock’s 50 day simple moving average is $346.59 and its 200 day simple moving average is $344.83. 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 company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.13 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated 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 sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred 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 transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners grew its position in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in The Cigna Group during the 1st quarter worth $29,000. Raleigh Capital Management Inc. lifted 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 buying an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the 2nd quarter valued at about $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.