The Cigna Group (NYSE:CI) Price Target Raised to $300.00

Posted by Defense World Staff on Aug 13th, 2023

The Cigna Group (NYSE:CI – Free Report) had its price objective hoisted by Wells Fargo & Company from $284.00 to $300.00 in a report published on Wednesday morning, FlyOnTheWall reports.

A number of other brokerages have also issued reports on CI. Royal Bank of Canada dropped their price objective on shares of The Cigna Group from $333.00 to $287.00 in a report on Monday, May 8th. Raymond James raised their target price on shares of The Cigna Group from $310.00 to $330.00 and gave the stock a strong-buy rating in a research report on Monday, August 7th. Truist Financial lowered their target price on shares of The Cigna Group from $375.00 to $365.00 in a research report on Tuesday, June 20th. StockNews.com downgraded The Cigna Group from a strong-buy rating to a buy rating in a research note on Tuesday, August 8th. Finally, Sanford C. Bernstein cut their target price on shares of The Cigna Group from $367.00 to $293.00 in a research note on Wednesday, April 26th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $337.79.

Get Our Latest Stock Analysis on CI

The Cigna Group Stock Up 0.2 %

Shares of The Cigna Group stock opened at $289.51 on Wednesday. The firm’s 50 day moving average price is $280.22 and its 200-day moving average price is $274.75. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.62. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $340.11. The company has a market cap of $85.69 billion, a P/E ratio of 13.18, a PEG ratio of 1.05 and a beta of 0.65.

The Cigna Group (NYSE:CI – Get Free Report) last released its earnings results on Thursday, August 3rd. The health services provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.98 by $0.15. The Cigna Group had a net margin of 3.57% and a return on equity of 12.32%. The company had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $47.24 billion. During the same quarter in the previous year, the firm earned $6.22 EPS. The Cigna Group’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that The Cigna Group will post 24.79 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be given a dividend of $1.23 per share. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $4.92 annualized dividend and a yield of 1.70%. The Cigna Group’s dividend payout ratio (DPR) is presently 22.40%.

Insider Activity

In other The Cigna Group news, EVP Everett Neville sold 13,157 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $295.21, for a total transaction of $3,884,077.97. Following the transaction, the executive vice president now owns 4,937 shares in the company, valued at approximately $1,457,451.77. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Everett Neville sold 13,157 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $295.21, for a total value of $3,884,077.97. Following the transaction, the executive vice president now directly owns 4,937 shares of the company’s stock, valued at approximately $1,457,451.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 12,250 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $291.00, for a total value of $3,564,750.00. Following the completion of the sale, the senior vice president now directly owns 2,093 shares of the company’s stock, valued at $609,063. The disclosure for this sale can be found here. Insiders sold a total of 28,180 shares of company stock valued at $8,270,294 over the last three months. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Davis Investment Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $490,000. Private Trust Co. NA boosted its holdings in shares of The Cigna Group by 19.3% during the 1st quarter. Private Trust Co. NA now owns 4,127 shares of the health services provider’s stock valued at $1,055,000 after purchasing an additional 668 shares during the last quarter. Profund Advisors LLC raised its position in shares of The Cigna Group by 7.3% during the 4th quarter. Profund Advisors LLC now owns 5,035 shares of the health services provider’s stock valued at $1,668,000 after buying an additional 342 shares in the last quarter. Commonwealth Equity Services LLC raised its position in The Cigna Group by 3.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 81,006 shares of the health services provider’s stock worth $26,840,000 after purchasing an additional 2,698 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $1,773,000. Institutional investors own 85.63% of the company’s stock.

About The Cigna Group

(Get Free Report)

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.