Stephens Has Lowered Expectations for The Cigna Group (NYSE:CI) Stock Price

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

Several other brokerages have also issued reports on CI. Truist Financial cut their price target 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. Cantor Fitzgerald decreased their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank of Canada dropped their price objective 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. Morgan Stanley decreased their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Price Performance

Shares of CI opened at $293.99 on Friday. The firm has a market cap of $81.77 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 0.82 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 company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50 day moving average price is $294.40 and its two-hundred day moving average price is $324.43.

The Cigna Group (NYSE:CI) last posted 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 return on equity of 18.42% and a net margin of 1.31%. During the same quarter last year, the firm earned $6.79 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. 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 2.05%. The Cigna Group’s payout ratio is currently 52.83%.

Institutional Investors Weigh In On The Cigna Group

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