The Cigna Group (NYSE:CI) Receives Consensus Rating of “Buy” from Brokerages

Shares of The Cigna Group (NYSE:CI) have been assigned a consensus recommendation of “Buy” from the fifteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $394.64.

Several research firms have commented on CI. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Barclays upped their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada dropped their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

The Cigna Group Trading Down 0.6 %

Shares of CI stock opened at $280.06 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $77.90 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock’s 50-day moving average price is $314.93 and its 200-day moving average price is $333.38.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 EPS. Equities research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.00%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors and hedge funds have recently bought and sold shares of CI. AQR Capital Management LLC raised its holdings in shares of The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after purchasing an additional 600,215 shares in the last quarter. Ameriprise Financial Inc. raised its stake in The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after buying an additional 405,694 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in The Cigna Group by 145.3% during the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after buying an additional 404,791 shares during the period. International Assets Investment Management LLC boosted its position in The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of The Cigna Group by 526.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after acquiring an additional 305,490 shares during the period. 86.99% of the stock is owned by institutional investors.

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.