The Cigna Group’s (CI) Strong-Buy Rating Reaffirmed at Raymond James

Raymond James reiterated their strong-buy rating on shares of The Cigna Group (NYSE:CI) in a research report released on Friday,Benzinga reports. The brokerage currently has a $360.00 price target on the health services provider’s stock, down from their previous price target of $415.00.

A number of other brokerages have also weighed in on CI. Cantor Fitzgerald reduced their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Truist Financial cut their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $380.27.

The Cigna Group Trading Up 3.9 %

Shares of CI stock opened at $293.99 on Friday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market cap of $81.77 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 0.82 and a beta of 0.54. The company’s 50-day moving average price is $294.40 and its 200-day moving average price is $324.43. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same quarter last year, the firm earned $6.79 EPS. As a group, equities analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 52.83%.

Institutional Trading of The Cigna Group

Institutional investors have recently modified their holdings of the company. Davidson Investment Advisors increased its holdings in The Cigna Group by 1.0% in the 4th quarter. Davidson Investment Advisors now owns 53,846 shares of the health services provider’s stock valued at $14,869,000 after purchasing an additional 559 shares in the last quarter. Valley Wealth Managers Inc. increased its holdings in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares during the last quarter. Kestra Investment Management LLC grew its position in shares of The Cigna Group by 63.5% during the fourth quarter. Kestra Investment Management LLC now owns 3,297 shares of the health services provider’s stock worth $911,000 after buying an additional 1,281 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of The Cigna Group by 16.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,224 shares of the health services provider’s stock worth $1,995,000 after buying an additional 1,000 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in The Cigna Group by 161.0% in the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the health services provider’s stock valued at $118,000 after acquiring an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.