Truist Financial Cuts The Cigna Group (NYSE:CI) Price Target to $375.00

The Cigna Group (NYSE:CI) had its target price trimmed by Truist Financial from $390.00 to $375.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the health services provider’s stock.

A number of other equities analysts have also weighed in on the stock. Cantor Fitzgerald dropped their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays decreased their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group decreased their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Trading Down 2.1 %

Shares of NYSE:CI opened at $287.08 on Tuesday. The stock has a 50 day moving average of $291.86 and a 200 day moving average of $323.32. The company has a market cap of $79.85 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 in the prior year, the company earned $6.79 EPS. As a group, equities research analysts expect that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The company 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 dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.10%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds have recently added to or reduced their stakes in the company. One Capital Management LLC grew its holdings in The Cigna Group by 0.8% during the 4th quarter. One Capital Management LLC now owns 39,339 shares of the health services provider’s stock valued at $10,863,000 after purchasing an additional 324 shares during the last quarter. Raymond James Financial Inc. bought a new position in The Cigna Group during the 4th quarter valued at about $313,911,000. Dana Investment Advisors Inc. grew its holdings in The Cigna Group by 4.6% during the 4th quarter. Dana Investment Advisors Inc. now owns 27,474 shares of the health services provider’s stock valued at $7,587,000 after purchasing an additional 1,203 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in The Cigna Group by 24.5% during the 4th quarter. Proficio Capital Partners LLC now owns 864 shares of the health services provider’s stock valued at $239,000 after purchasing an additional 170 shares during the last quarter. Finally, Seizert Capital Partners LLC grew its holdings in The Cigna Group by 7.9% during the 4th quarter. Seizert Capital Partners LLC now owns 135,467 shares of the health services provider’s stock valued at $37,408,000 after purchasing an additional 9,938 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

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.