The Cigna Group (NYSE:CI) Receives Consensus Recommendation of “Buy” from Brokerages

The Cigna Group (NYSE:CI) has earned a consensus rating of “Buy” from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $373.69.

A number of analysts have weighed in on CI shares. Deutsche Bank Aktiengesellschaft reduced 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. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Cantor Fitzgerald reduced their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Institutional Trading of The Cigna Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CI. TCTC Holdings LLC bought a new stake in The Cigna Group during the 4th quarter worth approximately $25,000. Ulland Investment Advisors LLC increased its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group during the 3rd quarter valued at $37,000. Collier Financial purchased a new position in shares of The Cigna Group during the 4th quarter valued at $32,000. Finally, ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.9 %

NYSE:CI opened at $295.46 on Friday. The firm has a market capitalization of $82.18 billion, a P/E ratio of 24.14, a PEG ratio of 0.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company’s 50-day simple moving average is $288.96 and its 200 day simple moving average is $322.16.

The Cigna Group (NYSE:CI) last posted 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 in the previous year, the company posted $6.79 earnings per share. As a group, analysts forecast that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.04%. The Cigna Group’s payout ratio is 45.75%.

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.