The Cigna Group (NYSE:CI) Given New $375.00 Price Target at Truist Financial

The Cigna Group (NYSE:CI) had its price objective decreased by Truist Financial from $390.00 to $375.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the health services provider’s stock.

Several other equities research analysts have also commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday. Morgan Stanley reduced their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. UBS Group reduced their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $376.63.

The Cigna Group Trading Down 0.2 %

NYSE:CI opened at $291.84 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market cap of $81.17 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a 50-day moving average price of $293.59 and a two-hundred day moving average price of $323.84.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business posted $6.79 earnings per share. On average, equities analysts expect that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 45.75%.

Institutional Investors Weigh In On The Cigna Group

Several hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares in the last quarter. Geode Capital Management LLC boosted its stake in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. Parnassus Investments LLC boosted its stake in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after acquiring an additional 59,011 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in The Cigna Group by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after acquiring an additional 44,810 shares in the last quarter. 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.