The Cigna Group (NYSE:CI) Price Target Cut to $339.00 by Analysts at Barclays

The Cigna Group (NYSE:CI) had its price target decreased by Barclays from $420.00 to $339.00 in a report issued on Friday,Benzinga reports. Barclays currently has an overweight rating on the health services provider’s stock.

Several other analysts have also recently weighed in on the company. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Piper Sandler restated an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Finally, Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Two investment 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. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $380.27.

The Cigna Group Price Performance

CI stock opened at $293.99 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 stock has a market cap of $81.77 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 0.82 and a beta of 0.54. The company has a 50 day simple moving average of $294.40 and a 200 day simple moving average of $324.43.

The Cigna Group (NYSE:CI) last announced 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 net margin of 1.31% and a return on equity of 18.42%. During the same period in the prior year, the firm earned $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 52.83%.

Institutional Trading of The Cigna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC purchased a new stake in The Cigna Group in the 2nd quarter valued at $523,000. Cetera Investment Advisers grew its stake in shares of The Cigna Group by 1.4% in the 2nd 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 raised its holdings in shares of 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 during the last quarter. Anchor Investment Management LLC boosted its holdings in The Cigna Group by 4.7% during the second 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 grew its position in The Cigna Group by 18.6% in the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

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.