Cigna Group (NYSE:CI) Price Target Raised to $374.00 at Robert W. Baird

Key Points

• Analyst firm Robert W. Baird has increased Cigna Group's price target from $362.00 to $374.00, indicating a potential upside of 29.69% from its current price and maintaining an "outperform" rating.
• Cigna Group reported $7.20 EPS for the last quarter, exceeding analysts' expectations of $7.15 and showing an 11.0% increase in revenue year-over-year.
• The current average rating for Cigna Group stock is a "Moderate Buy" with a consensus price target of $378.33, as reported by multiple investment analysts.

Cigna Group (NYSE:CI - Free Report) had its price target boosted by Robert W. Baird from $362.00 to $374.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the health services provider's stock.

CI has been the subject of several other research reports. Morgan Stanley raised their price target on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Piper Sandler lifted their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Truist Financial lifted their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Cowen restated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $378.33.

Cigna Group Stock Performance

Shares of Cigna Group stock traded up $6.67 during trading hours on Thursday, reaching $297.02. The company's stock had a trading volume of 2,918,002 shares, compared to its average volume of 2,115,989. The company's 50 day simple moving average is $302.03 and its 200 day simple moving average is $311.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The stock has a market cap of $79.28 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $6.72 EPS. As a group, analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio is currently 32.97%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CI. Flaharty Asset Management LLC acquired a new stake in Cigna Group in the first quarter valued at $28,000. 1248 Management LLC purchased a new stake in shares of Cigna Group in the first quarter valued at $29,000. Solstein Capital LLC purchased a new stake in shares of Cigna Group in the second quarter valued at $29,000. Chilton Capital Management LLC purchased a new stake in shares of Cigna Group in the second quarter valued at $30,000. Finally, Activest Wealth Management lifted its position in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

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.