Cigna Group (NYSE:CI) Given New $325.00 Price Target at Wolfe Research

Cigna Group (NYSE:CI) had its price objective cut by Wolfe Research from $345.00 to $325.00 in a research note released on Wednesday morning,MarketScreener reports. They currently have an outperform rating on the health services provider’s stock.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Wells Fargo & Company upped their target price on Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Robert W. Baird set a $372.00 target price on Cigna Group in a research note on Thursday, August 14th. The Goldman Sachs Group started coverage on Cigna Group in a research note on Tuesday. They issued a “buy” rating and a $370.00 target price on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.89.

Cigna Group Price Performance

CI stock opened at $294.79 on Wednesday. Cigna Group has a 1 year low of $256.89 and a 1 year high of $358.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50 day moving average price is $296.36 and its 200 day moving average price is $308.77. The firm has a market cap of $78.69 billion, a P/E ratio of 16.09, a PEG ratio of 0.89 and a beta of 0.45.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the prior year, the company earned $6.72 EPS. 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. On average, sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Trading of Cigna Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Family Legacy Inc. increased its holdings in shares of Cigna Group by 0.5% during the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider’s stock worth $2,138,000 after buying an additional 31 shares during the last quarter. Impact Investors Inc increased its holdings in Cigna Group by 1.6% in the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider’s stock valued at $650,000 after purchasing an additional 31 shares in the last quarter. Mission Wealth Management LP increased its holdings in Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock valued at $691,000 after purchasing an additional 32 shares in the last quarter. Westend Capital Management LLC increased its holdings in Cigna Group by 8.1% in the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider’s stock valued at $140,000 after purchasing an additional 32 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC increased its holdings in Cigna Group by 26.8% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider’s stock valued at $53,000 after purchasing an additional 34 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.