Cigna Group (NYSE:CI) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Cigna Group (NYSE:CI) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other equities analysts also recently commented on CI. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Cowen reiterated a “buy” rating on shares of Cigna Group in a report on Monday, May 5th. Barclays dropped their price target on Cigna Group from $385.00 to $354.00 and set an “overweight” rating for the company in a research note on Friday. Robert W. Baird reduced their price objective on Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Mizuho upped their target price on Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $378.67.

Cigna Group Price Performance

Shares of CI stock opened at $262.26 on Friday. The business has a fifty day simple moving average of $308.90 and a 200 day simple moving average of $312.11. The company has a market cap of $70.06 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.79 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83.

Cigna Group (NYSE:CI) last issued its earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the previous year, the firm earned $6.72 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. Cigna Group’s dividend payout ratio is 33.44%.

Hedge Funds Weigh In On Cigna Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP increased its stake in shares of Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock valued at $211,219,000 after acquiring an additional 188,235 shares in the last quarter. Humankind Investments LLC boosted its stake in Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after acquiring an additional 571 shares in the last quarter. NBC Securities Inc. acquired a new stake in Cigna Group in the first quarter worth $123,000. SBI Securities Co. Ltd. grew its holdings in Cigna Group by 18.8% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock worth $131,000 after purchasing an additional 63 shares during the period. Finally, GAMMA Investing LLC increased its stake in Cigna Group by 79.0% in the first quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock valued at $1,775,000 after purchasing an additional 2,381 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.