The Cigna Group (NYSE:CI) Shares Gap Up - Still a Buy?

The Cigna Group (NYSE:CI - Get Free Report)'s stock price gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CI. Barclays lifted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Piper Sandler reissued an "overweight" rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Stephens reaffirmed an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, StockNews.com downgraded The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $394.64.

The Cigna Group Stock Performance

The firm's 50 day moving average is $341.73 and its 200-day moving average is $340.26. 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 firm has a market cap of $95.46 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company's revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted $6.77 EPS. Sell-side analysts anticipate 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 will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.63%. The Cigna Group's dividend payout ratio is currently 52.83%.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the business's 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 transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On The Cigna Group

A number of large investors have recently modified their holdings of CI. Vanguard Group Inc. increased its position in The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider's stock worth $9,731,000,000 after purchasing an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in The Cigna Group by 6.4% during the 1st 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 buying an additional 867,180 shares during the last quarter. Parnassus Investments LLC lifted its holdings in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider's stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the period. Dimensional Fund Advisors LP boosted its position in The Cigna Group by 6.1% during 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 purchasing an additional 150,765 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider's stock worth $706,822,000 after purchasing an additional 405,694 shares in the last quarter. 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.