The Cigna Group (NYSE:CI - Free Report) had its price target reduced by Wells Fargo & Company from $370.00 to $341.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the health services provider's stock.
Several other brokerages also recently commented on CI. 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 for the company in a report on Friday, November 1st. Barclays cut their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Stephens dropped 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, January 31st. Morgan Stanley lowered their price target on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, StockNews.com lowered The Cigna Group from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and a consensus price target of $376.63.
Read Our Latest Analysis on CI
The Cigna Group Trading Up 0.5 %
Shares of The Cigna Group stock traded up $1.45 during trading on Tuesday, reaching $292.91. 715,953 shares of the company were exchanged, compared to its average volume of 1,822,732. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $81.47 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 0.97 and a beta of 0.54. The business has a 50-day moving average price of $292.73 and a 200-day moving average price of $323.53.
The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period last year, the company posted $6.79 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 29.66 EPS 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. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 2.06%. The Cigna Group's dividend payout ratio is 45.75%.
Institutional Investors Weigh In On The Cigna Group
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ulland Investment Advisors LLC boosted its position 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 valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $37,000. Collier Financial acquired a new stake in shares of The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group during the 4th quarter worth about $34,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the 3rd quarter valued at about $45,000. 86.99% of the stock is currently owned by institutional investors.
The Cigna Group Company Profile
(
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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.
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