The Cigna Group (NYSE:CI) Coverage Initiated at Piper Sandler

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

Several other equities analysts have also weighed in on the stock. Morgan Stanley reaffirmed an overweight rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Robert W. Baird assumed coverage on The Cigna Group in a report on Thursday, May 30th. They set an outperform rating and a $388.00 price target on the stock. Oppenheimer increased their price target on The Cigna Group from $370.00 to $400.00 and gave the company an outperform rating in a report on Friday, May 3rd. Baird R W upgraded shares of The Cigna Group to a strong-buy rating in a research note on Thursday, May 30th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group has a consensus rating of Buy and a consensus target price of $376.20.

The Cigna Group Stock Performance

Shares of CI opened at $330.31 on Wednesday. The company has a 50-day moving average of $341.23 and a two-hundred day moving average of $332.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $93.83 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.03 and a beta of 0.53. The Cigna Group has a one year low of $253.95 and a one year high of $365.71.

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

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were issued a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.70%. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Activity at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated 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 transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated 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 transaction, 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 22,988 shares of company stock valued at $7,975,726 over the last ninety days. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On The Cigna Group

Several institutional investors have recently modified their holdings of the stock. Silicon Valley Capital Partners grew its position in shares of The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC bought a new stake in The Cigna Group in the 1st quarter valued at approximately $29,000. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group during the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. raised its stake in shares of The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Finally, VisionPoint Advisory Group LLC raised its stake in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.