Mizuho Forecasts Strong Price Appreciation for The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CI - Free Report) had its price objective upped by Mizuho from $360.00 to $384.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the health services provider's stock.

A number of other equities research analysts have also weighed in on the company. Sanford C. Bernstein lowered The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Piper Sandler reaffirmed an "overweight" rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Truist Financial reduced their target price on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $375.00.

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The Cigna Group Price Performance

NYSE:CI traded down $1.95 during mid-day trading on Wednesday, reaching $328.24. The stock had a trading volume of 475,760 shares, compared to its average volume of 1,686,163. The stock has a market capitalization of $89.83 billion, a P/E ratio of 26.82, a P/E/G ratio of 0.98 and a beta of 0.51. The firm has a 50 day moving average price of $312.04 and a two-hundred day moving average price of $311.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the business earned $6.79 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. The Cigna Group's dividend payout ratio is presently 49.35%.

Insider Activity 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 on Monday, March 3rd. The shares were 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 directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On The Cigna Group

A number of hedge funds have recently modified their holdings of the business. Moody National Bank Trust Division grew its holdings in The Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the period. Kesler Norman & Wride LLC raised its stake in The Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after acquiring an additional 35 shares during the period. Wynn Capital LLC boosted its position in shares of The Cigna Group by 1.0% in the first quarter. Wynn Capital LLC now owns 3,451 shares of the health services provider's stock worth $1,135,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. increased its stake in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after purchasing an additional 36 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of The Cigna Group by 2.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider's stock valued at $535,000 after purchasing an additional 36 shares during the period. 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.