The Cigna Group’s (CI) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of The Cigna Group (NYSE:CI) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $384.00 price target on the health services provider’s stock.

Several other research firms have also recently commented on CI. StockNews.com raised The Cigna Group from a buy rating to a strong-buy rating in a research note on Friday, August 2nd. Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They set an outperform rating and a $388.00 price objective for the company. Barclays upped their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Baird R W upgraded shares of The Cigna Group to a strong-buy rating in a research report on Thursday, May 30th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $387.00.

The Cigna Group Stock Down 0.2 %

Shares of NYSE CI opened at $357.44 on Monday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.64. The firm’s 50-day simple moving average is $342.53 and its 200 day simple moving average is $343.92. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market cap of $99.92 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $6.13 earnings per share. On average, research analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Transactions at The Cigna Group

In other news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elder Granger sold 547 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold a total of 8,033 shares of company stock valued at $2,757,740 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Cigna Group

Several institutional investors have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners increased its stake in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Cedar Wealth Management LLC acquired a new stake in The Cigna Group in the 1st quarter valued at $29,000. Raleigh Capital Management Inc. increased its stake in The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the 2nd quarter valued at $33,000. Finally, Pineridge Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at $37,000. 86.99% of the stock is owned by institutional investors.

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.