The Cigna Group (NYSE:CI) Price Target Cut to $377.00 by Analysts at Royal Bank of Canada

The Cigna Group (NYSE:CI) had its price target lowered by investment analysts at Royal Bank of Canada from $384.00 to $377.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 19.10% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $392.29.

The Cigna Group Stock Performance

NYSE CI traded up $1.74 on Friday, hitting $316.55. 1,684,423 shares of the company’s stock traded hands, compared to its average volume of 1,521,390. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $88.49 billion, a PE ratio of 24.80, a P/E/G ratio of 0.95 and a beta of 0.50. The firm’s 50-day moving average price is $346.52 and its two-hundred day moving average price is $341.77.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the firm earned $6.77 EPS. The business’s revenue was up 29.8% on a year-over-year basis. As a group, analysts expect that The Cigna Group will post 28.48 EPS for the current year.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Cigna Group

A number of large investors have recently made changes to their positions in CI. Vanguard Group Inc. grew its position in shares of The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after buying an additional 867,180 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after acquiring an additional 150,765 shares during the period. Ameriprise Financial Inc. lifted its holdings in The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after purchasing an additional 600,215 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

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.