The Cigna Group (NYSE:CI) Price Target Lowered to $390.00 at UBS Group

The Cigna Group (NYSE:CI) had its target price decreased by analysts at UBS Group from $410.00 to $390.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the health services provider’s stock. UBS Group’s target price would indicate a potential upside of 32.01% from the stock’s previous close.

Several other brokerages have also recently weighed in on CI. Truist Financial decreased their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley cut their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada cut their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday. Finally, StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $378.00.

The Cigna Group Price Performance

Shares of CI traded up $1.22 during midday trading on Monday, hitting $295.43. 738,875 shares of the company traded hands, compared to its average volume of 1,815,818. The stock has a 50-day moving average of $294.40 and a 200-day moving average of $324.18. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market cap of $82.17 billion, a P/E ratio of 24.20, a PEG ratio of 0.97 and a beta of 0.54. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 in the prior year, the firm earned $6.79 EPS. As a group, sell-side analysts predict that The Cigna Group will post 29.66 EPS for the current fiscal year.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after acquiring an additional 130,048 shares in the last quarter. Geode Capital Management LLC raised its holdings in The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after purchasing an additional 22,408 shares in the last quarter. Parnassus Investments LLC raised its holdings in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in The Cigna Group by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The 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.