The Cigna Group (NYSE:CI) Receives Overweight Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of The Cigna Group (NYSE:CI) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $394.00 price objective on the health services provider’s stock, up from their previous price objective of $392.00.

A number of other research analysts also recently commented on CI. Royal Bank of Canada dropped their price target on 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. Deutsche Bank Aktiengesellschaft cut 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 report on Monday. JPMorgan Chase & Co. upped 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. Barclays raised their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Performance

CI stock traded down $1.61 during mid-day trading on Tuesday, hitting $317.88. 79,980 shares of the company were exchanged, 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 business has a 50 day simple moving average of $343.37 and a 200-day simple moving average of $340.80. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization 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 data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $59.58 billion. During the same period in the prior year, the firm posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

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

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Several hedge funds have recently made changes to their positions in CI. Cedar Wealth Management LLC bought a new stake in The Cigna Group during the first quarter valued at $29,000. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC boosted its position in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group in the second quarter worth approximately $66,000. 86.99% of the stock is currently owned by 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.