The Cigna Group (NYSE:CI) Shares Gap Up – Should You Buy?

The Cigna Group (NYSE:CI)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $265.59, but opened at $276.45. The Cigna Group shares last traded at $280.00, with a volume of 681,007 shares.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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 restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Trading Up 5.4 %

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 stock has a fifty day moving average of $323.54 and a 200-day moving average of $335.82. The company has a market cap of $77.83 billion, a PE ratio of 26.57, a PEG ratio of 0.88 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the company earned $6.77 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Institutional Trading of The Cigna Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CI. FMR LLC grew its stake in shares of The Cigna Group by 2.0% during the 3rd 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. Massachusetts Financial Services Co. MA boosted its position in The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after buying an additional 130,048 shares in the last quarter. Geode Capital Management LLC boosted its position in The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after buying an additional 22,408 shares during the period. Parnassus Investments LLC raised its position in The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after acquiring an additional 150,765 shares during the period. Institutional investors own 86.99% of the company’s stock.

About The Cigna Group

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.