The Cigna Group (NYSE:CI) Earns "Outperform" Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of The Cigna Group (NYSE:CI - Free Report) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $371.00 price objective on the health services provider's stock.

A number of other analysts have also recently commented on the stock. Guggenheim reissued a "buy" rating and set a $388.00 target price on shares of The Cigna Group in a research note on Friday, May 23rd. Barclays increased their price objective on shares of The Cigna Group from $382.00 to $385.00 and gave the company an "overweight" rating in a report on Monday. Cowen reissued a "buy" rating on shares of The Cigna Group in a research note on Monday, May 5th. Truist Financial increased their price target on The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Piper Sandler raised their target price on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $380.39.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $0.67 on Tuesday, hitting $310.79. The company's stock had a trading volume of 1,682,930 shares, compared to its average volume of 1,804,948. The company has a market capitalization of $83.03 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The firm has a fifty day moving average price of $324.14 and a 200-day moving average price of $309.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The 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 for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the company posted $6.47 EPS. The business's quarterly revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Insider Activity at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This trade represents a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently bought and sold shares of CI. Family Legacy Inc. boosted its stake in shares of The Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after buying an additional 31 shares during the period. Impact Investors Inc increased its holdings in shares of The Cigna Group by 1.6% in the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after acquiring an additional 31 shares during the last quarter. Mission Wealth Management LP boosted its holdings in The Cigna Group by 1.5% in the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares in the last quarter. Westend Capital Management LLC boosted its holdings in The Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division increased its stake in The Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other 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.