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

The Cigna Group (NYSE:CI - Get Free Report) has been assigned an average rating of "Buy" from the nineteen research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $373.56.

A number of analysts recently weighed in on the company. Morgan Stanley decreased their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. 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 report on Wednesday, April 9th. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Guggenheim began coverage on shares of The Cigna Group in a report on Wednesday, April 9th. They set a "buy" rating and a $384.00 price objective on the stock. Finally, Raymond James restated a "strong-buy" rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st.

The Cigna Group Stock Up 3.7 %

The Cigna Group stock opened at $336.89 on Wednesday. The stock has a 50 day moving average of $317.24 and a two-hundred day moving average of $310.60. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market capitalization of $92.20 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 0.98 and a beta of 0.51. 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 Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 last year, the company earned $6.79 EPS. As a group, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.79%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's payout ratio is presently 49.35%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of The Cigna Group during the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of The Cigna Group during the fourth quarter worth about $724,517,000. GAMMA Investing LLC boosted its position in shares of The Cigna Group by 58,799.0% in the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after buying an additional 1,771,613 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of The Cigna Group in the fourth quarter worth about $313,911,000. Finally, GQG Partners LLC grew its stake in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after buying an additional 737,099 shares in the last quarter. 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.

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