The Cigna Group (NYSE:CI) Price Target Cut to $390.00 by Analysts at Truist Financial

The Cigna Group (NYSE:CI) had its price target decreased by Truist Financial from $420.00 to $390.00 in a research note released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the health services provider’s stock.

A number of other research firms also recently commented on CI. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada cut their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $395.93.

The Cigna Group Price Performance

The Cigna Group stock opened at $279.40 on Monday. The firm’s 50-day moving average is $307.49 and its two-hundred day moving average is $330.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $77.72 billion, a P/E ratio of 26.36, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the firm posted $6.77 EPS. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. Equities analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.00%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CI. Ulland Investment Advisors LLC grew its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the third quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter worth about $45,000. Intact Investment Management Inc. bought a new stake in The Cigna Group in the third quarter valued at about $69,000. Finally, Stone House Investment Management LLC raised its stake in The Cigna Group by 25.0% during the third quarter. Stone House Investment Management LLC now owns 200 shares of the health services provider’s stock valued at $69,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds 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.