The Cigna Group (NYSE:CI) Receives Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of The Cigna Group (NYSE:CI) in a research note released on Monday morning,Benzinga reports. The firm currently has a $348.00 price objective on the health services provider’s stock, down from their prior price objective of $394.00.

Several other equities analysts also recently commented on CI. StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday. Stephens dropped their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday. Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $378.00.

The Cigna Group Trading Down 0.6 %

NYSE CI opened at $292.56 on Monday. The firm has a market cap of $81.38 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock has a 50-day moving average of $294.40 and a 200-day moving average of $324.18. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the company posted $6.79 earnings per share. As a group, sell-side analysts forecast that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is presently 45.75%.

Institutional Investors Weigh In On The Cigna Group

Several hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its stake in The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after purchasing an additional 399,230 shares in the last quarter. Swedbank AB lifted its stake in shares of The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares in the last quarter. FMR LLC lifted its stake in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Raymond James & Associates grew its holdings in shares of The Cigna Group by 42.8% during the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock valued at $297,956,000 after buying an additional 257,711 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after acquiring an additional 202,161 shares in the last quarter. 86.99% of the stock is owned by 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.