Brokerages Set Cigna Group (NYSE:CI) Price Target at $372.53

Cigna Group (NYSE:CI) has earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $369.8889.

CI has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Barclays upped their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Guggenheim restated a “buy” rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a report on Thursday, August 14th.

Insider Activity

In other news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the sale, the insider owned 51,182 shares in the company, valued at $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Cigna Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its holdings in shares of Cigna Group by 119.5% in the third quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Cigna Group during the first quarter worth about $28,000. 1248 Management LLC purchased a new stake in Cigna Group during the first quarter worth about $29,000. Solstein Capital LLC purchased a new stake in Cigna Group during the second quarter worth about $29,000. Finally, Activest Wealth Management increased its holdings in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Stock Up 3.0%

Shares of NYSE CI opened at $299.81 on Wednesday. The firm has a market cap of $80.03 billion, a PE ratio of 16.37, a P/E/G ratio of 0.85 and a beta of 0.45. Cigna Group has a 12-month low of $256.89 and a 12-month high of $353.55. The company’s fifty day simple moving average is $297.27 and its 200 day simple moving average is $308.29. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI) last issued its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period in the prior year, the firm earned $6.72 earnings per share. Cigna Group’s revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio is currently 32.97%.

About 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.