The Cigna Group (NYSE:CI) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of The Cigna Group (NYSE:CI) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued an overweight rating and a $400.00 price target on the health services provider’s stock.

Other research analysts also recently issued research reports about the stock. Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an overweight rating and a $393.00 price objective for the company. Baird R W raised shares of The Cigna Group to a strong-buy rating in a research report on Thursday, May 30th. Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Cantor Fitzgerald reissued an overweight rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, June 12th. Finally, StockNews.com downgraded shares of The Cigna Group from a strong-buy rating to a buy rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Buy and an average price target of $376.20.

The Cigna Group Trading Down 1.1 %

CI opened at $330.57 on Wednesday. The firm’s fifty day moving average is $341.23 and its two-hundred day moving average is $333.15. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $93.91 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period last year, the business posted $5.41 earnings per share. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock valued at $7,975,726 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CI. Silicon Valley Capital Partners lifted its position in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at $29,000. Cedar Wealth Management LLC acquired a new position in shares of The Cigna Group during the 1st quarter valued at $29,000. VisionPoint Advisory Group LLC raised its holdings in The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 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.