The Cigna Group (NYSE:CI) PT Raised to $438.00 at JPMorgan Chase & Co.

The Cigna Group (NYSE:CI) had its price target increased by JPMorgan Chase & Co. from $435.00 to $438.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the health services provider’s stock.

Several other research firms have also recently commented on CI. Baird R W raised The Cigna Group to a strong-buy rating in a research note on Thursday, May 30th. Stephens restated an overweight rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an overweight rating and a $400.00 target price on the stock. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a report on Friday, August 2nd. Finally, Barclays raised their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an overweight rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $384.86.

The Cigna Group Trading Up 2.2 %

NYSE CI opened at $353.99 on Wednesday. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The firm has a 50 day simple moving average of $336.09 and a 200-day simple moving average of $342.09. The firm has a market cap of $100.56 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.02 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

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

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elder Granger sold 547 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold a total of 9,033 shares of company stock valued at $3,095,820 over the last quarter. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CI. Norges Bank purchased a new stake in The Cigna Group in the 4th quarter valued at approximately $1,006,348,000. Vanguard Group Inc. boosted its stake in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. AQR Capital Management LLC lifted its holdings in The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares during the period. Finally, Focused Investors Fund L P purchased a new stake in shares of The Cigna Group during the 1st quarter worth $205,529,000. 86.99% of the stock is currently owned by hedge funds and other 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.