Fintel reports that on January 4, 2024, Bernstein upgraded their outlook for Cigna Group (NYSE:CI) from Market Perform to Outperform .
Analyst Price Forecast Suggests 16.99% Upside
As of December 15, 2023, the average one-year price target for Cigna Group is 355.25. The forecasts range from a low of 289.87 to a high of $404.25. The average price target represents an increase of 16.99% from its latest reported closing price of 303.66.
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The projected annual revenue for Cigna Group is 238,357MM, an increase of 25.55%. The projected annual non-GAAP EPS is 29.18.
Cigna Group Declares $1.23 Dividend
On October 25, 2023 the company declared a regular quarterly dividend of $1.23 per share ($4.92 annualized). Shareholders of record as of December 6, 2023 received the payment on December 21, 2023. Previously, the company paid $1.23 per share.
At the current share price of $303.66 / share, the stock's dividend yield is 1.62%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.02%, the lowest has been 0.02%, and the highest has been 2.01%. The standard deviation of yields is 0.85 (n=234).
The current dividend yield is 0.71 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 122.00%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2681 funds or institutions reporting positions in Cigna Group. This is an increase of 34 owner(s) or 1.28% in the last quarter. Average portfolio weight of all funds dedicated to CI is 0.51%, an increase of 4.17%. Total shares owned by institutions increased in the last three months by 0.79% to 301,770K shares. 
The put/call ratio of CI is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 13,713K shares representing 4.69% ownership of the company. In it's prior filing, the firm reported owning 13,858K shares, representing a decrease of 1.06%. The firm increased its portfolio allocation in CI by 6.10% over the last quarter.
Dodge & Cox holds 13,428K shares representing 4.59% ownership of the company. In it's prior filing, the firm reported owning 12,025K shares, representing an increase of 10.45%. The firm increased its portfolio allocation in CI by 14.96% over the last quarter.
Massachusetts Financial Services holds 11,834K shares representing 4.04% ownership of the company. In it's prior filing, the firm reported owning 11,488K shares, representing an increase of 2.92%. The firm increased its portfolio allocation in CI by 627.56% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 9,222K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 8,077K shares, representing an increase of 12.41%. The firm increased its portfolio allocation in CI by 16.96% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,216K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 9,229K shares, representing a decrease of 0.14%. The firm increased its portfolio allocation in CI by 5.67% over the last quarter.
Cigna Background Information
(This description is provided by the company.)
Cigna Corporation is a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Cigna Life Insurance Company of New York, Connecticut General Life Insurance Company, Evernorth companies or their affiliates, Express Scripts companies or their affiliates, and Life Insurance Company of North America. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in over 30 countries and jurisdictions, and has more than 175 million customer relationships throughout the world.
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