The Cigna Group’s (CI) “Overweight” Rating Reaffirmed at Piper Sandler

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

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Jefferies Financial Group lifted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Up 1.9 %

Shares of NYSE CI opened at $318.34 on Tuesday. The company has a market capitalization of $88.55 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. 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 business has a 50-day moving average of $344.23 and a two-hundred day moving average of $340.99. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83.

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

The Cigna Group Dividend Announcement

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

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 that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group during the 1st quarter worth $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter worth $33,000. Ulland Investment Advisors LLC increased its holdings 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 worth $36,000 after buying an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group during the 2nd quarter worth $66,000. Hedge funds and other institutional investors 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.