The Cigna Group (NYSE:CI) Price Target Cut to $377.00 by Analysts at Royal Bank of Canada

The Cigna Group (NYSE:CI) had its target price trimmed by Royal Bank of Canada from $384.00 to $377.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the health services provider’s stock.

A number of other analysts have also weighed in on the company. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $394.00.

The Cigna Group Price Performance

NYSE:CI opened at $312.32 on Friday. The firm has a market capitalization of $87.31 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 0.95 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.71. The business has a 50 day simple moving average of $344.94 and a 200-day simple moving average of $341.23. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. The Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.79%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. AQR Capital Management LLC lifted its position in The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after acquiring an additional 600,215 shares during the period. Swedbank AB purchased a new stake in The Cigna Group during the 1st quarter valued at about $161,300,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after purchasing an additional 405,694 shares during the period. 86.99% of the stock is currently 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.