Barclays Cuts Cigna Group (NYSE:CI) Price Target to $354.00

Cigna Group (NYSE:CI) had its target price cut by Barclays from $385.00 to $354.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the health services provider’s stock.

Several other research analysts have also commented on CI. Wall Street Zen lowered shares of Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Guggenheim restated a “buy” rating and issued a $388.00 price objective on shares of Cigna Group in a report on Friday, May 23rd. Robert W. Baird decreased their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $378.67.

Cigna Group Trading Down 1.9%

Shares of CI opened at $262.26 on Friday. The firm has a market cap of $70.01 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.79 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $370.83. The firm has a 50 day moving average price of $308.90 and a 200-day moving average price of $312.33.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same period in the prior year, the business posted $6.72 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.3%. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

Institutional Investors Weigh In On Cigna Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CI. Flaharty Asset Management LLC purchased a new stake in Cigna Group during the 1st quarter valued at approximately $28,000. 1248 Management LLC purchased a new stake in Cigna Group during the 1st quarter valued at approximately $29,000. Solstein Capital LLC purchased a new stake in Cigna Group during the 2nd quarter valued at approximately $29,000. Chilton Capital Management LLC purchased a new stake in Cigna Group during the 2nd quarter valued at approximately $30,000. Finally, Activest Wealth Management grew its holdings in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after buying an additional 72 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Cigna Group Company Profile

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.