The Cigna Group (NYSE:CI) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of The Cigna Group (NYSE:CI) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $384.00 price target on the health services provider’s stock.

A number of other research analysts have also commented on CI. StockNews.com raised shares of The Cigna Group from a buy rating to a strong-buy rating in a research report on Friday, August 2nd. Baird R W upgraded The Cigna Group to a strong-buy rating in a research note on Thursday, May 30th. Barclays upped their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Cantor Fitzgerald restated an overweight rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and an average price target of $387.00.

The Cigna Group Price Performance

NYSE CI opened at $362.19 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $102.89 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The company has a 50 day simple moving average of $343.27 and a 200-day simple moving average of $344.04. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.64.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the firm earned $6.13 EPS. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities research analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s payout ratio is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,033 shares of company stock valued at $2,757,740. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CI. Silicon Valley Capital Partners raised its position in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group during the 1st quarter valued at $29,000. Raleigh Capital Management Inc. increased its stake in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the period. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the second quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new stake in The Cigna Group in the fourth quarter valued at approximately $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

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.