The Cigna Group (NYSE:CI) Price Target Cut to $375.00 by Analysts at Truist Financial

The Cigna Group (NYSE:CI) had its target price decreased by analysts at Truist Financial from $390.00 to $375.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the health services provider’s stock. Truist Financial’s target price indicates a potential upside of 28.07% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday. Cantor Fitzgerald cut their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday. Deutsche Bank Aktiengesellschaft cut 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 note on Monday, November 4th. Finally, StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average price target of $376.63.

The Cigna Group Price Performance

CI traded up $0.36 during midday trading on Tuesday, hitting $292.82. The company had a trading volume of 715,856 shares, compared to its average volume of 1,821,589. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company has a market capitalization of $81.45 billion, a PE ratio of 23.96, a P/E/G ratio of 0.97 and a beta of 0.54. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm’s 50-day simple moving average is $293.59 and its 200-day simple moving average is $323.84.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 posted $6.79 earnings per share. Equities research analysts predict that The Cigna Group will post 29.66 EPS for the current fiscal year.

Hedge Funds Weigh In On The Cigna Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. AMF Tjanstepension AB boosted its position in shares of The Cigna Group by 18.6% in the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock valued at $25,511,000 after acquiring an additional 11,550 shares during the period. Czech National Bank lifted its position in The Cigna Group by 5.2% during the third quarter. Czech National Bank now owns 56,947 shares of the health services provider’s stock worth $19,729,000 after purchasing an additional 2,813 shares during the period. GAMMA Investing LLC lifted its position in The Cigna Group by 45.2% during the third quarter. GAMMA Investing LLC now owns 3,611 shares of the health services provider’s stock worth $1,251,000 after purchasing an additional 1,124 shares during the period. Bath Savings Trust Co lifted its position in The Cigna Group by 3.2% during the third quarter. Bath Savings Trust Co now owns 6,405 shares of the health services provider’s stock worth $2,219,000 after purchasing an additional 200 shares during the period. Finally, Kesler Norman & Wride LLC bought a new stake in The Cigna Group during the third quarter worth about $692,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.