The Cigna Group (NYSE:CI) Shares Gap Up – Time to Buy?

The Cigna Group (NYSE:CI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $319.77, but opened at $342.52. The Cigna Group shares last traded at $340.52, with a volume of 640,315 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CI. Piper Sandler restated an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada reduced their target price on shares of 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. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Performance

The company’s 50 day moving average is $341.35 and its 200 day moving average is $340.18. The firm has a market cap of $94.59 billion, a P/E ratio of 32.08, a P/E/G ratio of 1.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 earnings per share. As a group, equities analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.65%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Several large investors have recently added to or reduced their stakes in CI. Avantax Advisory Services Inc. lifted its position in The Cigna Group by 8.5% during the first quarter. Avantax Advisory Services Inc. now owns 3,612 shares of the health services provider’s stock valued at $1,312,000 after purchasing an additional 284 shares during the period. Bleakley Financial Group LLC increased its stake in The Cigna Group by 4.4% during the first quarter. Bleakley Financial Group LLC now owns 6,747 shares of the health services provider’s stock worth $2,450,000 after acquiring an additional 285 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in The Cigna Group by 2.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 170,884 shares of the health services provider’s stock valued at $62,063,000 after buying an additional 4,038 shares during the period. TD Asset Management Inc lifted its holdings in shares of The Cigna Group by 13.8% in the 1st quarter. TD Asset Management Inc now owns 246,601 shares of the health services provider’s stock worth $89,563,000 after acquiring an additional 29,838 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in shares of The Cigna Group by 4.3% during the first quarter. Kingsview Wealth Management LLC now owns 29,595 shares of the health services provider’s stock valued at $10,749,000 after buying an additional 1,227 shares during the period. 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.