The Cigna Group (NYSE:CI) Given New $377.00 Price Target at Royal Bank of Canada

The Cigna Group (NYSE:CI) had its price target reduced by Royal Bank of Canada from $384.00 to $377.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the health services provider’s stock.

Several other analysts have also recently weighed in on CI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group increased their price target on shares of 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 raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Barclays lifted their price target 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. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $392.29.

The Cigna Group Price Performance

NYSE CI traded up $1.68 during trading hours on Friday, hitting $316.49. The company had a trading volume of 2,810,769 shares, compared to its average volume of 1,526,703. The firm has a 50 day simple moving average of $345.77 and a 200 day simple moving average of $341.55. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The firm has a market capitalization of $88.47 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 0.95 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the company earned $6.77 earnings per share. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

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 issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is presently 44.06%.

Insiders Place Their Bets

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 shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors have recently modified their holdings of the stock. Checchi Capital Advisers LLC boosted its stake in The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares during the last quarter. IFG Advisors LLC lifted its stake in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after buying an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after buying an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after acquiring an additional 32 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.