Truist Financial Cuts The Cigna Group (NYSE:CI) Price Target to $390.00

The Cigna Group (NYSE:CI) had its price target cut by Truist Financial from $420.00 to $390.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the health services provider’s stock.

A number of other research firms have also commented on CI. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Jefferies Financial Group lifted their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Stock Down 0.3 %

CI stock opened at $279.11 on Monday. The firm has a market cap of $77.64 billion, a PE ratio of 26.33, a PEG ratio of 0.88 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a fifty day simple moving average of $306.25 and a 200 day simple moving average of $329.32. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its 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 company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $6.77 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Institutional Investors Weigh In On The Cigna Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Douglas Lane & Associates LLC increased its stake in The Cigna Group by 3.5% in the fourth quarter. Douglas Lane & Associates LLC now owns 1,636 shares of the health services provider’s stock valued at $452,000 after acquiring an additional 56 shares during the period. Park National Corp OH boosted its holdings in The Cigna Group by 3.4% during the fourth quarter. Park National Corp OH now owns 2,013 shares of the health services provider’s stock valued at $556,000 after purchasing an additional 66 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in The Cigna Group by 24.1% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 6,412 shares of the health services provider’s stock valued at $1,771,000 after purchasing an additional 1,244 shares in the last quarter. Fortem Financial Group LLC grew its stake in shares of The Cigna Group by 3.7% in the 4th quarter. Fortem Financial Group LLC now owns 2,868 shares of the health services provider’s stock valued at $792,000 after purchasing an additional 101 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of The Cigna Group by 151.7% in the 4th quarter. Versant Capital Management Inc now owns 584 shares of the health services provider’s stock worth $161,000 after buying an additional 352 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

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.