The Cigna Group (NYSE:CI) Shares Gap Up to $348.90

The Cigna Group (NYSE:CI) gapped up before the market opened on Tuesday . The stock had previously closed at $348.90, but opened at $356.13. The Cigna Group shares last traded at $351.17, with a volume of 227,419 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CI. Cantor Fitzgerald reiterated an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Wednesday, April 10th. Oppenheimer reiterated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research note on Wednesday, January 17th. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Wells Fargo & Company increased their target price on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $362.14.

The Cigna Group Stock Performance

The stock has a fifty day simple moving average of $347.73 and a two-hundred day simple moving average of $314.79. The stock has a market cap of $101.12 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.07 and a beta of 0.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.96 EPS. Analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s dividend payout ratio is presently 32.20%.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CI. Bogart Wealth LLC raised its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new position in The Cigna Group during the 3rd quarter worth $26,000. Main Street Group LTD bought a new position in The Cigna Group during the 4th quarter worth $28,000. Fairfield Bush & CO. bought a new position in The Cigna Group during the 2nd quarter worth $28,000. Finally, Fortitude Family Office LLC bought a new position in The Cigna Group during the 4th quarter worth $29,000. 86.99% of the stock is owned by institutional investors.

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.