Truist Financial Issues Pessimistic Forecast for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI) had its price target decreased by Truist Financial from $420.00 to $390.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the health services provider’s stock.

Other analysts have also recently issued research reports about the stock. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. 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. Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group increased their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Price Performance

CI opened at $279.40 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $307.49 and its 200 day moving average price is $330.10. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market cap of $77.72 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the prior year, the firm earned $6.77 EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Institutional Trading of The Cigna Group

A number of hedge funds have recently bought and sold shares of the company. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group during the 3rd quarter valued at $45,000. Intact Investment Management Inc. purchased a new stake in shares of The Cigna Group in the third quarter valued at $69,000. Finally, Stone House Investment Management LLC lifted its holdings in shares of The Cigna Group by 25.0% in the third quarter. Stone House Investment Management LLC now owns 200 shares of the health services provider’s stock valued at $69,000 after purchasing an additional 40 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other 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.