Deutsche Bank Aktiengesellschaft Cuts The Cigna Group (NYSE:CI) Price Target to $394.00

The Cigna Group (NYSE:CI) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $398.00 to $394.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the health services provider’s stock.

Other equities analysts have also issued reports about the company. Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Down 1.0 %

The Cigna Group stock opened at $315.09 on Monday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $87.64 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 0.96 and a beta of 0.51. The company’s 50 day simple moving average is $343.37 and its 200 day simple moving average is $340.80.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.78%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Cigna Group

Several hedge funds have recently bought and sold shares of the company. Cedar Wealth Management LLC bought a new stake in The Cigna Group in the first quarter valued at approximately $29,000. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC lifted its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in The Cigna Group during the third quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of The Cigna Group in the second quarter valued at $66,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.