The Cigna Group (NYSE:CI) Price Target Cut to $350.00 by Analysts at Cantor Fitzgerald

The Cigna Group (NYSE:CI) had its target price dropped by equities research analysts at Cantor Fitzgerald from $400.00 to $350.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 17.49% from the stock’s previous close.

A number of other research firms have also weighed in on CI. 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. Royal Bank of Canada lowered 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 research note on Friday, November 1st. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Truist Financial cut their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $385.64.

The Cigna Group Stock Up 5.3 %

CI traded up $14.92 on Friday, hitting $297.90. The company had a trading volume of 971,333 shares, compared to its average volume of 1,734,864. The stock has a fifty day simple moving average of $295.09 and a 200-day simple moving average of $324.69. 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 firm has a market capitalization of $82.86 billion, a P/E ratio of 28.04, a P/E/G ratio of 0.82 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released 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 return on equity of 18.42% and a net margin of 1.31%. During the same period in the previous year, the firm posted $6.79 EPS. As a group, equities analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after buying an additional 399,230 shares during the last quarter. Swedbank AB grew its stake in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares during the last quarter. FMR LLC raised its holdings in The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after acquiring an additional 279,880 shares during the period. Raymond James & Associates lifted its position in The Cigna Group by 42.8% during the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after acquiring an additional 257,711 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after acquiring an additional 202,161 shares during the period. 86.99% of the stock is currently owned by institutional investors.

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.