The Cigna Group (NYSE:CI) Price Target Lowered to $379.00 at Morgan Stanley

The Cigna Group (NYSE:CI) had its price objective reduced by Morgan Stanley from $403.00 to $379.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the health services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 34.20% from the company’s previous close.

A number of other research analysts also recently commented on CI. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Truist Financial decreased their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $389.21.

The Cigna Group Trading Down 6.9 %

NYSE CI opened at $282.42 on Friday. The company’s fifty day simple moving average is $295.09 and its 200-day simple moving average is $324.69. The stock has a market cap of $78.56 billion, a P/E ratio of 26.64, a PEG 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 current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its earnings results 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 net margin of 1.31% and a return on equity of 18.42%. During the same period last year, the company earned $6.79 EPS. Equities research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently bought and sold shares of the business. Algert Global LLC acquired a new position in The Cigna Group in the 2nd quarter valued at approximately $523,000. Cetera Investment Advisers raised its holdings in shares of The Cigna Group by 1.4% during the second quarter. Cetera Investment Advisers now owns 63,156 shares of the health services provider’s stock worth $20,878,000 after acquiring an additional 895 shares in the last quarter. Clearbridge Investments LLC grew its stake in The Cigna Group by 154.9% in the second quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock valued at $1,165,000 after purchasing an additional 2,142 shares in the last quarter. Anchor Investment Management LLC increased its position in The Cigna Group by 4.7% in the 2nd quarter. Anchor Investment Management LLC now owns 4,768 shares of the health services provider’s stock worth $1,576,000 after purchasing an additional 214 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in shares of The Cigna Group by 18.6% during the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock valued at $25,511,000 after buying an additional 11,550 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other 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.