Truist Financial Cuts The Cigna Group (NYSE:CI) Price Target to $390.00

The Cigna Group (NYSE:CI) had its price objective decreased by research analysts at Truist Financial from $420.00 to $390.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the health services provider’s stock. Truist Financial’s target price points to a potential upside of 39.34% from the stock’s current price.

A number of other research analysts have also recently issued reports on CI. Barclays increased their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Stock Performance

NYSE CI opened at $279.90 on Monday. The company has a fifty day moving average of $306.92 and a two-hundred day moving average of $329.67. The company has a market capitalization of $77.86 billion, a PE ratio of 26.41, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the business posted $6.77 EPS. The company’s revenue was up 29.8% on a year-over-year basis. As a group, analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CI. Private Advisor Group LLC increased its holdings in shares of The Cigna Group by 2.2% during the 2nd quarter. Private Advisor Group LLC now owns 21,120 shares of the health services provider’s stock worth $7,012,000 after purchasing an additional 455 shares during the period. Cullen Frost Bankers Inc. increased its stake in The Cigna Group by 4.7% during the second quarter. Cullen Frost Bankers Inc. now owns 3,975 shares of the health services provider’s stock valued at $1,314,000 after acquiring an additional 178 shares during the period. Certuity LLC acquired a new position in The Cigna Group in the 2nd quarter valued at approximately $297,000. Koss Olinger Consulting LLC bought a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $321,000. Finally, Oak Thistle LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter worth approximately $503,000. 86.99% of the stock is owned by institutional investors.

About The 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.