The Cigna Group (NYSE:CI) Earns Buy Rating from Analysts at Guggenheim

Guggenheim started coverage on shares of The Cigna Group (NYSE:CI - Free Report) in a report published on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $384.00 price objective on the health services provider's stock.

Several other brokerages also recently issued reports on CI. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Mizuho boosted their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Piper Sandler reaffirmed an "overweight" rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald lifted their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and an average target price of $375.00.

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The Cigna Group Stock Performance

NYSE CI traded down $3.30 during trading hours on Wednesday, reaching $326.89. The company's stock had a trading volume of 548,667 shares, compared to its average volume of 1,686,449. The stock has a market cap of $89.46 billion, a PE ratio of 26.71, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 business has a 50-day simple moving average of $312.04 and a 200 day simple moving average of $311.07.

The Cigna Group (NYSE:CI - Get Free Report) 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 the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm posted $6.79 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.85%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's payout ratio is 49.35%.

Insider Buying and Selling

In other news, Director Elder Granger sold 2,376 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last three months. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of The Cigna Group

Several hedge funds have recently bought and sold shares of CI. Sterling Financial Group Inc. bought a new stake in The Cigna Group during the 4th quarter valued at approximately $4,367,000. Principal Financial Group Inc. raised its position in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after buying an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after buying an additional 858 shares in the last quarter. Valley Wealth Managers Inc. increased its holdings in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after acquiring an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in shares of The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after purchasing an additional 3,466 shares during the last quarter. 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.