Oppenheimer Cuts The Cigna Group (NYSE:CI) Price Target to $375.00

The Cigna Group (NYSE:CI) had its target price lowered by Oppenheimer from $400.00 to $375.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the health services provider’s stock. Oppenheimer’s price target suggests a potential upside of 26.21% from the company’s previous close.

Several other equities analysts have also issued reports on CI. Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price 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. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barclays lowered their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Morgan Stanley reduced their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Price Performance

Shares of CI stock traded up $14.14 during trading hours on Friday, hitting $297.12. 1,539,330 shares of the company’s stock were exchanged, compared to its average volume of 1,768,976. The company has a market capitalization of $82.64 billion, a PE ratio of 28.01, a PEG ratio of 0.82 and a beta of 0.54. 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 Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The business’s 50 day simple moving average is $295.09 and its 200-day simple moving average is $324.69.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same quarter in the prior year, the business posted $6.79 EPS. On average, equities research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

Institutional Investors Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empower Advisory Group LLC increased its holdings in shares of The Cigna Group by 10.4% during the fourth quarter. Empower Advisory Group LLC now owns 10,383 shares of the health services provider’s stock valued at $2,867,000 after acquiring an additional 981 shares in the last quarter. CIBC Asset Management Inc grew its position in The Cigna Group by 3.4% during the 4th quarter. CIBC Asset Management Inc now owns 42,843 shares of the health services provider’s stock valued at $11,831,000 after purchasing an additional 1,411 shares during the last quarter. Highview Capital Management LLC DE bought a new stake in The Cigna Group during the 4th quarter valued at about $287,000. Sanctuary Advisors LLC raised its holdings in The Cigna Group by 2.5% in the fourth quarter. Sanctuary Advisors LLC now owns 50,099 shares of the health services provider’s stock worth $14,177,000 after buying an additional 1,239 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in The Cigna Group in the fourth quarter worth about $543,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.