The Cigna Group’s (CI) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of The Cigna Group (NYSE:CI) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a $400.00 price objective on the health services provider’s stock.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. Baird R W upgraded The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. StockNews.com upgraded The Cigna Group from a buy rating to a strong-buy rating in a report on Friday, August 2nd. Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Finally, Stephens reaffirmed an overweight rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of Buy and an average target price of $392.79.

The Cigna Group Price Performance

NYSE CI opened at $357.42 on Monday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The business’s fifty day moving average is $346.59 and its two-hundred day moving average is $344.83. The stock has a market capitalization of $101.53 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

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

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently made changes to their positions in the stock. Silicon Valley Capital Partners increased its stake in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group during the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. increased its position in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group in the second quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new position in The Cigna Group in the fourth quarter worth $37,000. 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.