UBS Group Issues Pessimistic Forecast for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI) had its price target lowered by equities researchers at UBS Group from $410.00 to $390.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the health services provider’s stock. UBS Group’s price objective would indicate a potential upside of 33.64% from the stock’s previous close.

Several other research analysts have also recently weighed in on CI. Oppenheimer reduced their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Truist Financial lowered their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Royal Bank of Canada dropped their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $376.63.

The Cigna Group Price Performance

CI opened at $291.84 on Monday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $81.17 billion, a P/E ratio of 23.84, a PEG ratio of 0.97 and a beta of 0.54. The business has a fifty day moving average of $293.59 and a 200 day moving average of $323.84. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm posted $6.79 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 29.66 EPS for the current year.

Hedge Funds Weigh In On The Cigna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in The Cigna Group in the second quarter valued at approximately $523,000. Clearbridge Investments LLC boosted its stake in The Cigna Group by 154.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock valued at $1,165,000 after purchasing an additional 2,142 shares during the period. AMF Tjanstepension AB grew its position in The Cigna Group by 18.6% in the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares during the last quarter. Czech National Bank increased its stake in shares of The Cigna Group by 5.2% in the third quarter. Czech National Bank now owns 56,947 shares of the health services provider’s stock valued at $19,729,000 after purchasing an additional 2,813 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of The Cigna Group by 45.2% during the third quarter. GAMMA Investing LLC now owns 3,611 shares of the health services provider’s stock valued at $1,251,000 after buying an additional 1,124 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

About The 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.