Cantor Fitzgerald Boosts The Cigna Group (NYSE:CI) Price Target to $400.00

The Cigna Group (NYSE:CI - Free Report) had its target price upped by Cantor Fitzgerald from $384.00 to $400.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the health services provider's stock.

CI has been the subject of a number of other research reports. Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an outperform rating in a report on Friday. Morgan Stanley reiterated an overweight rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Royal Bank of Canada upgraded shares of The Cigna Group from a sector perform rating to an outperform rating and boosted their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a research note on Thursday, March 14th. Finally, Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an overweight rating and a $393.00 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $366.14.

The Cigna Group Trading Down 0.9 %

Shares of CI stock traded down $3.05 during trading hours on Friday, reaching $341.45. 2,413,542 shares of the stock were exchanged, compared to its average volume of 1,593,263. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The company's 50-day moving average price is $350.82 and its 200-day moving average price is $319.39. The firm has a market capitalization of $99.83 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts' consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $57.25 billion during the quarter, compared to analysts' expectations of $56.59 billion. During the same period in the previous year, the company earned $5.41 EPS. The firm's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The Cigna Group's dividend payout ratio is currently 32.20%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated 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 transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated 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 transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company's stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On The Cigna Group

Several institutional investors and hedge funds have recently modified their holdings of CI. Roman Butler Fullerton & Co. raised its position in shares of The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider's stock worth $2,772,000 after purchasing an additional 3,539 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in shares of The Cigna Group in the fourth quarter valued at approximately $4,377,000. Sapient Capital LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $2,811,000. Allspring Global Investments Holdings LLC increased its position in shares of The Cigna Group by 29.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider's stock worth $87,870,000 after purchasing an additional 66,891 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in The Cigna Group in the 4th quarter valued at $2,244,000. Hedge funds and other 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.