Cigna Group (NYSE:CI) Price Target Lowered to $333.00 at TD Cowen

Cigna Group (NYSE:CI) had its target price reduced by TD Cowen from $387.00 to $333.00 in a research report released on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the health services provider’s stock.

Several other equities research analysts have also recently issued reports on CI. Cantor Fitzgerald reduced their price objective on shares of Cigna Group from $365.00 to $325.00 in a research report on Friday, October 31st. Morgan Stanley restated an “overweight” rating and issued a $355.00 price target on shares of Cigna Group in a research report on Friday. Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a research report on Monday. Barclays reduced their price target on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Leerink Partners reduced their price target on shares of Cigna Group from $300.00 to $270.00 in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cigna Group has a consensus rating of “Moderate Buy” and an average price target of $347.36.

Cigna Group Trading Up 2.0%

Cigna Group stock opened at $263.87 on Tuesday. The stock has a market cap of $70.43 billion, a P/E ratio of 14.40, a PEG ratio of 0.88 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The firm’s 50 day moving average price is $295.64 and its 200-day moving average price is $304.84.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.64 by $0.19. The firm had revenue of $69.57 billion for the quarter, compared to analysts’ expectations of $66.40 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s payout ratio is presently 26.64%.

Insiders Place Their Bets

In other news, CEO David Cordani acquired 4,134 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the purchase, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares of the company’s stock, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama boosted its position in Cigna Group by 3.9% in the second quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after buying an additional 6,155 shares during the last quarter. Modern Wealth Management LLC boosted its position in Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock valued at $1,030,000 after buying an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Cigna Group by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after buying an additional 1,357 shares during the last quarter. Acadian Asset Management LLC boosted its position in Cigna Group by 277.5% in the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock valued at $2,718,000 after buying an additional 6,082 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Cigna Group in the first quarter valued at approximately $431,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

About 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.