The Cigna Group (NYSE:CI) Given New $380.00 Price Target at Stephens

The Cigna Group (NYSE:CI) had its price objective trimmed by Stephens from $410.00 to $380.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the health services provider’s stock.

Several other research firms have also recently weighed in on CI. Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial reduced their target price 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. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Cantor Fitzgerald dropped their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $380.27.

The Cigna Group Trading Up 3.9 %

Shares of NYSE:CI opened at $293.99 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market capitalization of $81.77 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 0.82 and a beta of 0.54. The company 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 quick ratio of 0.72 and a current ratio of 0.72.

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 analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same quarter last year, the business posted $6.79 earnings per share. Sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Wednesday, March 5th. 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%.

Institutional Investors Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Davidson Investment Advisors increased its position in The Cigna Group by 1.0% in the 4th quarter. Davidson Investment Advisors now owns 53,846 shares of the health services provider’s stock valued at $14,869,000 after acquiring an additional 559 shares during the period. Valley Wealth Managers Inc. increased its holdings in The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after purchasing an additional 1,548 shares during the period. Kestra Investment Management LLC raised its position in The Cigna Group by 63.5% during the 4th quarter. Kestra Investment Management LLC now owns 3,297 shares of the health services provider’s stock worth $911,000 after purchasing an additional 1,281 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in The Cigna Group by 16.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,224 shares of the health services provider’s stock worth $1,995,000 after buying an additional 1,000 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of The Cigna Group by 161.0% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the health services provider’s stock valued at $118,000 after buying an additional 264 shares during 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.