The Cigna Group (NYSE:CI) Given Average Recommendation of "Buy" by Brokerages

The Cigna Group (NYSE:CI - Get Free Report) has been assigned a consensus recommendation of "Buy" from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $394.64.

CI has been the subject of several analyst reports. Jefferies Financial Group raised their target price 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Finally, Stephens reissued an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st.

Institutional Trading of The Cigna Group

Hedge funds have recently modified their holdings of the company. FMR LLC grew its stake in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider's stock worth $3,829,880,000 after purchasing an additional 130,048 shares in the last quarter. Geode Capital Management LLC grew its position in The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider's stock worth $2,021,563,000 after purchasing an additional 22,408 shares during the last quarter. Parnassus Investments LLC increased its stake in The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider's stock valued at $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider's stock worth $869,078,000 after buying an additional 150,765 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 2.7 %

Shares of NYSE:CI traded down $7.61 during trading on Thursday, reaching $274.80. The company's stock had a trading volume of 3,826,254 shares, compared to its average volume of 1,626,555. The stock has a market capitalization of $76.44 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 firm's 50 day simple moving average is $320.74 and its two-hundred day simple moving average is $335.02.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company's revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the company earned $6.77 EPS. On average, research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 2.04%. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

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.