The Cigna Group (NYSE:CI) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of The Cigna Group (NYSE:CI) from a strong-buy rating to a buy rating in a research note released on Monday.

A number of other research firms also recently issued reports on CI. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered 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 research report on Monday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given 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 price target of $394.64.

The Cigna Group Trading Up 1.8 %

NYSE CI opened at $320.77 on Monday. The business’s fifty day moving average is $343.37 and its 200-day moving average is $340.80. 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 stock has a market capitalization of $89.22 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 0.95 and a beta of 0.51. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

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

The Cigna Group Announces Dividend

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

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently modified their holdings of the company. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of The Cigna Group by 1.0% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 51,272 shares of the health services provider’s stock valued at $17,763,000 after buying an additional 529 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of The Cigna Group by 10.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,595 shares of the health services provider’s stock worth $553,000 after acquiring an additional 157 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of The Cigna Group by 9.2% during the 3rd quarter. Prospera Financial Services Inc now owns 1,378 shares of the health services provider’s stock valued at $480,000 after purchasing an additional 116 shares during the last quarter. Meeder Asset Management Inc. raised its position in The Cigna Group by 353.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,800 shares of the health services provider’s stock worth $4,088,000 after purchasing an additional 9,198 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in The Cigna Group in the third quarter worth $454,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Company Profile

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.