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

The Cigna Group (NYSE:CI) had its target price lowered by UBS Group from $410.00 to $390.00 in a research note published on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the health services provider’s stock.

A number of other research firms have also recently issued reports on CI. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday. Oppenheimer dropped 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 report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price 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. Raymond James reiterated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday. Finally, StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $378.00.

The Cigna Group Stock Performance

Shares of CI stock opened at $292.56 on Monday. The stock has a 50-day moving average of $294.40 and a 200-day moving average of $324.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market cap of $81.38 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly 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 period last year, the company posted $6.79 earnings per share. As a group, sell-side analysts expect that The Cigna Group will post 29.66 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

Institutional Investors Weigh In On The Cigna Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $4,367,000. Marks Group Wealth Management Inc raised its holdings 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 worth $8,319,000 after acquiring an additional 23,376 shares during the last quarter. Principal Financial Group Inc. lifted its stake in The Cigna Group by 3.6% during 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 acquiring an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP boosted 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 worth $28,204,000 after buying an additional 5,397 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its stake in The Cigna Group by 28.3% during the third 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 buying an additional 3,466 shares during the period. Institutional investors and hedge funds 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.