The Cigna Group (NYSE:CI) Price Target Cut to $341.00 by Analysts at Wells Fargo & Company

The Cigna Group (NYSE:CI) had its price objective decreased by Wells Fargo & Company from $370.00 to $341.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the health services provider’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays dropped their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Royal Bank of Canada lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $376.63.

The Cigna Group Price Performance

NYSE CI opened at $291.84 on Tuesday. The business has a 50 day simple moving average of $293.59 and a 200 day simple moving average of $323.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $81.17 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm posted $6.79 EPS. Analysts anticipate that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cutter & CO Brokerage Inc. lifted its position in shares of The Cigna Group by 2.1% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 2,387 shares of the health services provider’s stock valued at $659,000 after acquiring an additional 50 shares during the period. Illinois Municipal Retirement Fund raised its stake in The Cigna Group by 50.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 56,943 shares of the health services provider’s stock worth $15,724,000 after buying an additional 19,064 shares during the period. Vaughan David Investments LLC IL boosted its holdings in The Cigna Group by 1.7% in the fourth quarter. Vaughan David Investments LLC IL now owns 144,147 shares of the health services provider’s stock worth $39,805,000 after acquiring an additional 2,370 shares in the last quarter. FourThought Financial Partners LLC bought a new position in The Cigna Group in the fourth quarter worth approximately $3,050,000. Finally, Brown Financial Advisors increased its holdings in shares of The Cigna Group by 16.1% during the fourth quarter. Brown Financial Advisors now owns 1,435 shares of the health services provider’s stock valued at $396,000 after acquiring an additional 199 shares in the last quarter. 86.99% of the stock is 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.