The Cigna Group (NYSE:CI) Receives "Overweight" Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of The Cigna Group (NYSE:CI - Free Report) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $384.00 price objective on the health services provider's stock.

Other research analysts have also issued research reports about the company. Morgan Stanley reaffirmed an overweight rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Sanford C. Bernstein raised The Cigna Group from a market perform rating to an outperform rating and upped their price objective for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. StockNews.com raised The Cigna Group from a buy rating to a strong-buy rating in a report on Thursday, March 14th. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They set an overweight rating and a $393.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $362.14.

The Cigna Group Stock Performance

Shares of NYSE:CI traded up $0.36 during trading on Wednesday, reaching $357.84. The company had a trading volume of 992,769 shares, compared to its average volume of 1,619,188. The firm has a market capitalization of $104.62 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.56. 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 stock's fifty day moving average price is $343.92 and its 200 day moving average price is $312.40. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.96 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

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

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company's stock, valued at $110,394,985.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares of the company's stock, valued at approximately $15,180,660. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Cordani sold 38,065 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 over the last quarter. Insiders own 0.70% of the company's stock.

Institutional Trading of The Cigna Group

Hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its stake in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider's stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of The Cigna Group in the 3rd quarter valued at about $26,000. Main Street Group LTD acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $28,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $29,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider's stock valued at $30,000 after buying an additional 41 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

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.