Truist Financial Issues Pessimistic Forecast for The Cigna Group (NYSE:CI) Stock Price

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

Several other research firms have also weighed in on CI. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Barclays boosted their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $279.90 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a market cap of $77.86 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a 50-day moving average price of $306.92 and a 200-day moving average price of $329.67.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the company earned $6.77 EPS. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors have recently made changes to their positions in CI. Private Advisor Group LLC grew its position in The Cigna Group by 2.2% in the 2nd quarter. Private Advisor Group LLC now owns 21,120 shares of the health services provider’s stock valued at $7,012,000 after acquiring an additional 455 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of The Cigna Group by 4.7% in 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 purchasing an additional 178 shares during the period. Certuity LLC acquired a new position in shares of The Cigna Group in the second quarter valued at approximately $297,000. Koss Olinger Consulting LLC purchased a new stake in The Cigna Group during the 2nd quarter worth approximately $321,000. Finally, Oak Thistle LLC acquired a new stake in The Cigna Group during the 2nd quarter worth approximately $503,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.