Wells Fargo & Company Cuts The Cigna Group (NYSE:CI) Price Target to $341.00

The Cigna Group (NYSE:CI) had its price target reduced by Wells Fargo & Company from $370.00 to $341.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the health services provider’s stock.

A number of other analysts also recently commented on CI. Morgan Stanley decreased their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research note on Monday. Oppenheimer reduced their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $376.63.

The Cigna Group Trading Down 0.2 %

NYSE CI opened at $291.84 on Tuesday. 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 business has a fifty day simple moving average of $293.59 and a 200 day simple moving average of $323.84. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market capitalization of $81.17 billion, a P/E ratio of 23.84, a PEG ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 quarter in the prior year, the business earned $6.79 EPS. On average, analysts predict that The Cigna Group will post 29.66 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 issued a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is currently 45.75%.

Institutional Investors Weigh In On The Cigna Group

A number of large investors have recently added to or reduced their stakes in CI. IFG Advisors LLC grew its holdings in shares of The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. grew its stake in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after buying an additional 31 shares during the last quarter. Castle Rock Wealth Management LLC increased its holdings in shares of The Cigna Group by 0.5% in the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after buying an additional 34 shares during the period. Adero Partners LLC lifted its stake in shares of The Cigna Group by 4.5% in the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after acquiring an additional 34 shares during the last quarter. Finally, Waldron Private Wealth LLC boosted its holdings in The Cigna Group by 1.0% during the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock valued at $1,265,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.