Brokerages Set The Cigna Group (NYSE:CI) Target Price at $380.39

The Cigna Group (NYSE:CI) has received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $380.39.

Several brokerages have recently commented on CI. Morgan Stanley increased their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Guggenheim restated a “buy” rating and set a $388.00 price target on shares of The Cigna Group in a research note on Friday, May 23rd. Barclays restated an “overweight” rating and set a $385.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th.

The Cigna Group Stock Down 1.0%

CI stock opened at $314.30 on Thursday. The company has a 50 day moving average of $322.34 and a two-hundred day moving average of $308.02. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market cap of $83.96 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 0.98 and a beta of 0.44. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the prior year, the business posted $6.47 EPS. The Cigna Group’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Institutional Trading of The Cigna Group

A number of hedge funds have recently bought and sold shares of the stock. Family Legacy Inc. lifted its holdings in shares of The Cigna Group by 0.5% during the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider’s stock worth $2,138,000 after acquiring an additional 31 shares during the period. Impact Investors Inc grew its stake in The Cigna Group by 1.6% during the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider’s stock worth $650,000 after buying an additional 31 shares during the last quarter. Mission Wealth Management LP grew its stake in The Cigna Group by 1.5% during the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock worth $691,000 after buying an additional 32 shares during the last quarter. Westend Capital Management LLC grew its stake in The Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider’s stock worth $140,000 after buying an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division grew its stake in The Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock worth $1,509,000 after buying an additional 34 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

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.