Truist Financial Lowers The Cigna Group (NYSE:CI) Price Target to $375.00

The Cigna Group (NYSE:CI) had its price target dropped by stock analysts at Truist Financial from $390.00 to $375.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the health services provider’s stock. Truist Financial’s target price suggests a potential upside of 27.99% from the stock’s current price.

A number of other research firms have also recently issued reports on CI. Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Morgan Stanley reduced their price objective 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. 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 report on Friday, January 31st. StockNews.com cut The Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, 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 report on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $377.07.

The Cigna Group Stock Performance

Shares of CI stock opened at $293.00 on Tuesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 company has a market capitalization of $81.50 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 0.97 and a beta of 0.54. The stock’s fifty 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 quarterly earnings data 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 period last year, the firm posted $6.79 EPS. On average, sell-side analysts predict that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Cigna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Financial Group Inc. bought a new position in The Cigna Group during the fourth quarter valued at about $4,367,000. Marks Group Wealth Management Inc grew its stake in shares of The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares during the period. Principal Financial Group Inc. grew its stake in shares of The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares during the period. Trinity Street Asset Management LLP grew its stake in shares of The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after purchasing an additional 5,397 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its stake in shares of The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the period. 86.99% of the stock is currently owned by 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.