The Cigna Group (NYSE:CI) Hits New 52-Week High at $368.23

The Cigna Group (NYSE:CI - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $368.23 and last traded at $368.23, with a volume of 589 shares changing hands. The stock had previously closed at $362.45.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CI. Morgan Stanley reissued an "overweight" rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Barclays began coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an "overweight" rating and a $393.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $372.00 target price on shares of The Cigna Group in a research note on Monday, March 4th. Oppenheimer restated an "outperform" rating and issued a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Finally, Jefferies Financial Group raised shares of The Cigna Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $335.00 to $341.00 in a report on Monday, December 11th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and an average target price of $361.29.

The Cigna Group Stock Down 1.2 %

The firm has a market capitalization of $104.70 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 1.11 and a beta of 0.56. The stock has a fifty day moving average of $341.57 and a two-hundred day moving average of $311.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company had revenue of $51.15 billion during the quarter, compared to analysts' expectations of $48.91 billion. During the same period in the prior year, the company posted $4.96 earnings per share. The Cigna Group's revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Tuesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.23. The Cigna Group's payout ratio is presently 32.20%.

Insider Transactions at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company's stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock valued at $39,296,330 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Cigna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ellsworth Advisors LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $4,377,000. Accurate Wealth Management LLC purchased a new stake in The Cigna Group in the fourth quarter worth approximately $2,244,000. Dfpg Investments LLC lifted its holdings in shares of The Cigna Group by 92.0% in the 4th quarter. Dfpg Investments LLC now owns 7,160 shares of the health services provider's stock worth $2,174,000 after acquiring an additional 3,430 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in The Cigna Group by 3.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 121,836 shares of the health services provider's stock valued at $36,478,000 after buying an additional 3,925 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its holdings in The Cigna Group by 1.5% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 444,817 shares of the health services provider's stock valued at $127,249,000 after acquiring an additional 6,365 shares during the period. Institutional investors own 86.99% of the company's stock.

The 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.