Morgan Stanley Has Lowered Expectations for The Cigna Group (NYSE:CI) Stock Price

The Cigna Group (NYSE:CI) had its target price cut by Morgan Stanley from $403.00 to $379.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the health services provider’s stock.

Several other analysts also recently weighed in on CI. Piper Sandler reissued an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. 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 report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Stock Performance

Shares of CI opened at $293.99 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market cap of $81.77 billion, a PE ratio of 27.73, a P/E/G ratio of 0.82 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a fifty day moving average price of $294.40 and a 200-day moving average price of $324.43.

The Cigna Group (NYSE:CI) last released 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 previous year, the firm earned $6.79 earnings per share. Equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

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

Institutional Trading of The Cigna Group

Large investors have recently made changes to their positions in the company. Ulland Investment Advisors LLC lifted its stake in 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 worth $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $37,000. Collier Financial purchased a new position in The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the fourth quarter worth $34,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group in the 3rd quarter valued at $45,000. 86.99% of the stock is currently 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.