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 report released on Friday.

Several other equities research analysts have also recently weighed in on the stock. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday. Barclays lowered their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler restated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. 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 report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective 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. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $380.27.

The Cigna Group Trading Up 3.9 %

Shares of CI stock opened at $293.99 on Friday. The company’s fifty day simple moving average is $294.40 and its two-hundred day simple moving average is $324.43. The stock has a market capitalization of $81.77 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 0.82 and a beta of 0.54. 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 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 quarter in the prior year, the firm earned $6.79 earnings per share. As a group, analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current 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 issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 52.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter worth $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $34,000. Ulland Investment Advisors LLC grew its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in The Cigna Group during the third quarter worth about $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.