The Cigna Group (NYSE:CI) Cut to “Market Perform” at Sanford C. Bernstein

The Cigna Group (NYSE:CI) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $323.00 price objective on the health services provider’s stock. Sanford C. Bernstein’s price target points to a potential upside of 10.24% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. UBS Group lowered their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Stephens lowered their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Oppenheimer decreased their price target 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 decreased their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Three 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $373.69.

The Cigna Group Stock Up 0.5 %

Shares of NYSE CI opened at $293.00 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market cap of $81.50 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The firm’s 50-day simple moving average is $292.73 and its 200 day simple moving average is $323.53.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 last year, the company earned $6.79 EPS. On average, research analysts expect that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd boosted its stake in shares of The Cigna Group by 15.7% during the fourth quarter. Plato Investment Management Ltd now owns 17,040 shares of the health services provider’s stock valued at $4,723,000 after purchasing an additional 2,313 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $93,000. Jones Financial Companies Lllp boosted its stake in shares of The Cigna Group by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 27,887 shares of the health services provider’s stock valued at $7,701,000 after purchasing an additional 11,049 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $428,000. Finally, Bailard Inc. boosted its stake in shares of The Cigna Group by 4.0% during the fourth quarter. Bailard Inc. now owns 4,963 shares of the health services provider’s stock valued at $1,370,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

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.