Barclays Issues Positive Forecast for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI) had its target price raised by Barclays from $405.00 to $420.00 in a report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the health services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Performance

NYSE CI opened at $319.83 on Tuesday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $88.96 billion, a P/E ratio of 30.17, a P/E/G ratio of 0.95 and a beta of 0.51. The company has a fifty day moving average of $341.73 and a 200-day moving average of $340.43.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 EPS. As a group, equities research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.75%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Insider Buying and Selling

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 shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group in the first quarter worth approximately $29,000. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC lifted its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the third quarter worth approximately $37,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the third quarter worth approximately $45,000. Institutional investors 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.