The Cigna Group (NYSE:CI) Price Target Cut to $379.00 by Analysts at Morgan Stanley

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

CI has been the topic of a number of other research reports. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial dropped their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 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. Finally, Barclays dropped 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 report on Friday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Stock Performance

NYSE CI opened at $293.99 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a fifty day moving average of $294.40 and a 200-day moving average of $324.43. The company has a market capitalization of $81.77 billion, a P/E ratio of 27.73, a P/E/G ratio of 0.82 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $6.79 EPS. As a group, equities research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.05%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Institutional Trading of The Cigna Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CI. International Assets Investment Management LLC grew its position in shares of The Cigna Group by 49,287.7% during the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after purchasing an additional 399,230 shares in the last quarter. Swedbank AB boosted its stake in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after purchasing an additional 314,123 shares during the period. FMR LLC grew its holdings in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Raymond James & Associates raised its position in shares of The Cigna Group by 42.8% during the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock valued at $297,956,000 after buying an additional 257,711 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after buying an additional 202,161 shares in the last quarter. Hedge funds and other 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.