The Cigna Group (NYSE:CI) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of The Cigna Group (NYSE:CI) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.

CI has been the topic of a number of other research reports. Robert W. Baird started coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an outperform rating and a $388.00 price objective on the stock. Oppenheimer lifted their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. Stephens reaffirmed an overweight rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday. Finally, Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an overweight rating and a $400.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $379.06.

The Cigna Group Stock Up 1.5 %

Shares of CI opened at $337.45 on Friday. The business’s 50 day moving average is $335.80 and its 200 day moving average is $338.73. The company has a market capitalization of $95.86 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the company earned $6.13 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is currently 45.98%.

Insider Activity at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value 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 approximately $904,902.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value 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 approximately $904,902.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock worth $7,975,726 in the last quarter. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Trust Point Inc. acquired a new position in The Cigna Group during the 4th quarter valued at about $586,000. WealthShield Partners LLC acquired a new position in The Cigna Group during the 4th quarter valued at about $201,000. Breakwater Capital Group increased its position in The Cigna Group by 3.5% during the 4th quarter. Breakwater Capital Group now owns 1,144 shares of the health services provider’s stock valued at $349,000 after buying an additional 39 shares in the last quarter. SteelPeak Wealth LLC increased its position in The Cigna Group by 249.2% during the 4th quarter. SteelPeak Wealth LLC now owns 3,855 shares of the health services provider’s stock valued at $1,154,000 after buying an additional 2,751 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in The Cigna Group by 3.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 121,836 shares of the health services provider’s stock valued at $36,478,000 after buying an additional 3,925 shares in 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.