Royal Bank Of Canada Reiterates Outperform Rating for Cigna Group (NYSE:CI)

Royal Bank Of Canada reissued their outperform rating on shares of Cigna Group (NYSE:CI - Free Report) in a research note published on Thursday morning,Benzinga reports. They currently have a $371.00 price objective on the health services provider's stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial increased their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Cantor Fitzgerald increased their price objective on Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating and set a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. Morgan Stanley upped their target price on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Robert W. Baird decreased their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $380.39.

Cigna Group Price Performance

NYSE CI traded down $0.99 on Thursday, hitting $329.01. The company had a trading volume of 893,566 shares, compared to its average volume of 1,802,998. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The company's fifty day moving average price is $320.71 and its 200-day moving average price is $307.71. The company has a market capitalization of $87.89 billion, a PE ratio of 18.22, a PEG ratio of 0.94 and a beta of 0.44. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter last year, the business earned $6.47 earnings per share. The company's revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a $1.51 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.84%. Cigna Group's dividend payout ratio is currently 33.44%.

Hedge Funds Weigh In On Cigna Group

A number of hedge funds have recently modified their holdings of CI. Two Sigma Investments LP boosted its stake in Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after buying an additional 188,235 shares during the period. Humankind Investments LLC boosted its position in shares of Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after purchasing an additional 571 shares during the period. NBC Securities Inc. acquired a new stake in Cigna Group in the 1st quarter valued at approximately $123,000. First American Trust FSB purchased a new stake in Cigna Group in the fourth quarter valued at approximately $4,471,000. Finally, Factorial Partners LLC lifted its stake in Cigna Group by 7.8% during the fourth quarter. Factorial Partners LLC now owns 12,450 shares of the health services provider's stock worth $3,438,000 after purchasing an additional 900 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

About 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.