Cigna Group (NYSE:CI) Upgraded by TD Cowen to Strong-Buy Rating

TD Cowen upgraded shares of Cigna Group (NYSE:CI - Free Report) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on CI. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a report on Tuesday, June 3rd. 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 report on Monday, May 5th. Cantor Fitzgerald upped their price objective on Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Robert W. Baird cut their target price on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays reissued an "overweight" rating and issued a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $380.39.

Cigna Group Stock Down 0.4%

NYSE:CI traded down $1.32 during trading hours on Monday, reaching $315.51. 1,434,874 shares of the company traded hands, compared to its average volume of 1,709,885. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The business's 50-day moving average price is $321.01 and its two-hundred day moving average price is $307.59. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market capitalization of $84.29 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.94 and a beta of 0.44.

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

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Institutional Trading of Cigna Group

Large investors have recently added to or reduced their stakes in the business. Howe & Rusling Inc. purchased a new position in shares of Cigna Group during the 1st quarter worth $227,000. 1248 Management LLC bought a new position in Cigna Group in the 1st quarter worth $38,000. Modern Wealth Management LLC lifted its position in Cigna Group by 91.3% during the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider's stock valued at $1,030,000 after purchasing an additional 1,494 shares in the last quarter. Strs Ohio purchased a new position in Cigna Group during the first quarter valued at $19,803,000. Finally, Mattson Financial Services LLC grew its holdings in Cigna Group by 14.4% during the first quarter. Mattson Financial Services LLC now owns 2,953 shares of the health services provider's stock valued at $972,000 after purchasing an additional 372 shares during the period. 86.99% of the stock is currently owned by institutional investors.

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.