Cigna Group (NYSE:CI) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Cigna Group has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen.
• Despite the downgrade, several brokerages maintain "buy" or "strong buy" ratings, with an average price target of $378.67 for Cigna shares.
• Cigna recently reported earnings of $7.20 per share, exceeding estimates, and posted a revenue of $67.13 billion for the quarter.

Cigna Group (NYSE:CI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Several other brokerages also recently commented on CI. Guggenheim reaffirmed a "buy" rating and issued a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Morgan Stanley raised their price target on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Piper Sandler boosted their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cigna Group currently has a consensus rating of "Moderate Buy" and an average price target of $378.67.

Cigna Group Stock Performance

NYSE:CI opened at $262.26 on Friday. The firm has a market capitalization of $70.06 billion, a PE ratio of 14.32, a PEG ratio of 0.81 and a beta of 0.47. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm's fifty day simple moving average is $308.90 and its 200 day simple moving average is $311.92.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CI. Flaharty Asset Management LLC bought a new stake in Cigna Group during the 1st quarter worth approximately $28,000. 1248 Management LLC acquired a new position in Cigna Group in the first quarter worth $29,000. Solstein Capital LLC bought a new stake in shares of Cigna Group during the second quarter worth $29,000. Activest Wealth Management increased its stake in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after buying an additional 72 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in shares of Cigna Group in the second quarter valued at about $30,000. 86.99% of the stock is owned by institutional investors.

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.

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