The Cigna Group (NYSE:CI) Cut to “Market Perform” at Sanford C. Bernstein

The Cigna Group (NYSE:CI) was downgraded by Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report issued on Thursday, MarketBeat.com reports. They presently have a $323.00 price objective on the health services provider’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 10.24% from the company’s current price.

Several other research analysts also recently commented on the company. UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada cut their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Moderate Buy” and an average target price of $373.69.

The Cigna Group Trading Up 0.5 %

NYSE CI opened at $293.00 on Thursday. The firm has a market capitalization of $81.50 billion, a P/E ratio of 23.94, a PEG ratio of 0.97 and a beta of 0.54. The business has a fifty day simple moving average of $292.73 and a 200 day simple moving average of $323.53. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the business earned $6.79 EPS. On average, analysts predict that The Cigna Group will post 29.66 EPS for the current fiscal year.

Institutional Investors Weigh In On The Cigna Group

Several hedge funds have recently made changes to their positions in CI. International Assets Investment Management LLC boosted its holdings in The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after acquiring an additional 399,230 shares in the last quarter. Swedbank AB boosted its holdings in The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after acquiring an additional 314,123 shares in the last quarter. FMR LLC boosted its holdings in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Raymond James & Associates boosted its holdings in The Cigna Group by 42.8% in the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after acquiring an additional 257,711 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after acquiring an additional 237,909 shares in the last quarter. 86.99% of the stock is currently 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.