JPMorgan Chase & Co. Cuts Cigna Group (NYSE:CI) Price Target to $375.00

Cigna Group (NYSE:CI) had its price objective lowered by JPMorgan Chase & Co. from $428.00 to $375.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the health services provider’s stock.

Several other research firms have also recently weighed in on CI. Leerink Partners decreased their price objective on shares of Cigna Group from $300.00 to $270.00 in a research report on Friday, October 31st. Wolfe Research decreased their price target on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Guggenheim cut their target price on shares of Cigna Group from $350.00 to $309.00 in a research report on Friday, October 31st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $310.00 target price on shares of Cigna Group in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $344.91.

Cigna Group Trading Down 1.4%

Cigna Group stock opened at $256.04 on Tuesday. The stock has a market cap of $68.39 billion, a P/E ratio of 13.98, a PEG ratio of 0.88 and a beta of 0.44. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The firm’s fifty day moving average price is $293.97 and its 200-day moving average price is $304.18. 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 (NYSE:CI) last posted 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 company had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, December 4th. Cigna Group’s dividend payout ratio is presently 26.64%.

Insider Transactions at Cigna Group

In related news, CEO David Cordani bought 4,134 shares of the stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $241.88 per share, with a total value of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. The trade was a 2.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider owned 51,182 shares in the company, valued at approximately $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. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Cigna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CI. Brighton Jones LLC raised its stake in shares of Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after acquiring an additional 318 shares during the last quarter. Wayfinding Financial LLC bought a new position in Cigna Group during the 1st quarter valued at approximately $40,000. World Investment Advisors lifted its holdings in Cigna Group by 39.2% in the 1st quarter. World Investment Advisors now owns 4,866 shares of the health services provider’s stock worth $1,601,000 after buying an additional 1,371 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Cigna Group by 29.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,987 shares of the health services provider’s stock worth $1,641,000 after buying an additional 1,125 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Cigna Group by 10.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 329,177 shares of the health services provider’s stock worth $108,299,000 after buying an additional 29,849 shares during the last quarter. 86.99% of the stock is currently owned by 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.