The Cigna Group (NYSE:CI) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of The Cigna Group (NYSE:CI) from a buy rating to a hold rating in a research note published on Friday morning.

Several other equities analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stephens decreased their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday. Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Morgan Stanley reduced their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average target price of $380.27.

The Cigna Group Trading Up 3.9 %

NYSE:CI opened at $293.99 on Friday. The stock’s 50 day moving average price is $294.40 and its 200 day moving average price is $324.43. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $81.77 billion, a PE ratio of 27.73, a P/E/G ratio of 0.82 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period in the previous year, the company earned $6.79 earnings per share. On average, research analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared 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 is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.05%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Institutional Trading of The Cigna Group

Hedge funds have recently modified their holdings of the company. Collier Financial acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the fourth quarter worth about $34,000. Ulland Investment Advisors LLC boosted its stake in The Cigna Group by 2,500.0% during the 3rd 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 during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $37,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group in the fourth quarter worth about $37,000. Institutional investors and hedge funds 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.