Oppenheimer Lowers The Cigna Group (NYSE:CI) Price Target to $375.00

The Cigna Group (NYSE:CI) had its target price cut by Oppenheimer from $400.00 to $375.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the health services provider’s stock.

CI has been the topic of a number of other research reports. Truist Financial lowered their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald dropped their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Barclays decreased their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, 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. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $380.27.

The Cigna Group Stock Up 3.9 %

Shares of The Cigna Group stock opened at $293.99 on Friday. The firm has a market cap of $81.77 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 0.82 and a beta of 0.54. The stock has a 50-day simple moving average of $294.40 and a 200-day simple moving average of $324.43. 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 Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. During the same quarter last year, the business posted $6.79 EPS. On average, equities research analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.05%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 52.83%.

Hedge Funds Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ulland Investment Advisors LLC raised its stake in The Cigna Group by 2,500.0% during the third 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 stake in shares of The Cigna Group in the 3rd quarter worth about $37,000. Collier Financial acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the 4th quarter valued at about $34,000. Finally, Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter valued at about $45,000. Institutional investors 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.