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

The Cigna Group (NYSE:CI) 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 Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group boosted their price objective 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. Royal Bank of Canada lowered 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. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Down 2.7 %

The firm has a market capitalization of $76.44 billion, a PE ratio of 25.92, a PEG ratio of 0.88 and a beta of 0.50. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $320.74 and its 200 day moving average price is $335.02.

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

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.04%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after acquiring an additional 625 shares in the last quarter. Marks Group Wealth Management Inc boosted its stake in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the last quarter. Trinity Street Asset Management LLP grew its holdings in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after buying an additional 5,397 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after buying an additional 3,466 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its stake in shares of The Cigna Group by 9.0% during the second quarter. Brandes Investment Partners LP now owns 510,970 shares of the health services provider’s stock valued at $169,037,000 after buying an additional 41,979 shares during the period. Hedge funds and other 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.