Brokerages Set The Cigna Group (NYSE:CI) Price Target at $373.56

Shares of The Cigna Group (NYSE:CI - Get Free Report) have been given an average rating of "Buy" by the nineteen analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $373.56.

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. UBS Group decreased their price objective on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Robert W. Baird reduced their target price on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Guggenheim assumed coverage on shares of The Cigna Group in a research report on Wednesday, April 9th. They set a "buy" rating and a $384.00 price target on the stock.

The Cigna Group Price Performance

NYSE CI traded down $0.27 on Wednesday, hitting $335.09. The company had a trading volume of 1,347,165 shares, compared to its average volume of 1,702,241. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company's fifty day moving average price is $320.58 and its 200-day moving average price is $310.05. The company has a market capitalization of $91.71 billion, a PE ratio of 27.38, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts' consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the firm posted $6.79 EPS. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.80%. The Cigna Group's payout ratio is currently 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of The Cigna Group during the fourth quarter worth $867,785,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $724,517,000. GAMMA Investing LLC increased its holdings in shares of The Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after acquiring an additional 1,771,613 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in The Cigna Group during the fourth quarter worth approximately $313,911,000. Finally, GQG Partners LLC lifted its stake in The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. Institutional investors and hedge funds 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.