The Cigna Group (NYSE:CI) Sees Large Volume Increase - Here's Why

The Cigna Group (NYSE:CI - Get Free Report) saw unusually-strong 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

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Jefferies Financial Group lifted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday, October 1st. Finally, StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of "Buy" and a consensus target price of $392.79.

The Cigna Group Price Performance

The stock has a market capitalization of $90.97 billion, a P/E ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50. The company has a 50 day moving average of $350.66 and a 200-day moving average of $344.17. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $6.13 EPS. Sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.75%. The Cigna Group's dividend payout ratio (DPR) is presently 45.98%.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the company'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 sale, the director now directly owns 17,539 shares of the company's stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of The Cigna Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider's stock valued at $9,731,000,000 after buying an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider's stock worth $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider's stock worth $510,467,000 after purchasing an additional 600,215 shares during the period. Swedbank AB acquired a new position in The Cigna Group in the 1st quarter valued at approximately $161,300,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider's stock worth $706,822,000 after acquiring an additional 405,694 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

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.