The Cigna Group (CI) To Go Ex-Dividend on December 4th

The Cigna Group (NYSE:CI) announced a quarterly dividend on Wednesday, October 23rd,RTT News reports. Stockholders of record on Wednesday, December 4th will be given a dividend of 1.40 per share by the health services provider on Thursday, December 19th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, December 4th.

The Cigna Group has increased its dividend by an average of 397.3% per year over the last three years. The Cigna Group has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Analysts expect The Cigna Group to earn $31.45 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 17.8%.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $337.80 on Monday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The business’s fifty day moving average price is $333.16 and its two-hundred day moving average price is $338.34. The stock has a market capitalization of $93.96 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 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 analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the company earned $6.77 EPS. As a group, analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CI shares. Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $394.64.

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.