The Cigna Group (NYSE:CI) Sees Strong Trading Volume – Here’s What Happened

The Cigna Group (NYSE:CI) shares saw unusually-high trading volume on Monday . Approximately 1,243,030 shares were traded during trading, a decline of 16% from the previous session’s volume of 1,479,844 shares.The stock last traded at $321.00 and had previously closed at $336.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CI shares. JPMorgan Chase & Co. lifted 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. Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Piper Sandler assumed coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. Finally, Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50-day moving average price is $350.20 and its two-hundred day moving average price is $343.58. The firm has a market cap of $90.18 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the business earned $6.13 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, research analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was 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 owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in The Cigna Group by 240.8% during the 4th quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock worth $4,993,000 after buying an additional 11,782 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of The Cigna Group in the 1st quarter worth about $5,421,000. Dynamic Advisor Solutions LLC increased its holdings in shares of The Cigna Group by 13.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,290 shares of the health services provider’s stock worth $1,558,000 after acquiring an additional 501 shares during the period. First Financial Corp IN lifted its position in The Cigna Group by 17.2% in the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock valued at $82,000 after purchasing an additional 33 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its stake in The Cigna Group by 182.7% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,934 shares of the health services provider’s stock valued at $1,066,000 after purchasing an additional 1,896 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.