The Cigna Group (NYSE:CI - Get Free Report) released its quarterly earnings results on Friday. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39, Zacks reports. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the prior year, the firm earned $6.47 earnings per share. The Cigna Group's revenue was up 14.4% compared to the same quarter last year.
The Cigna Group Stock Up 0.3 %
Shares of CI stock traded up $0.90 during trading on Thursday, reaching $335.34. The company's stock had a trading volume of 684,388 shares, compared to its average volume of 1,695,261. The company has a market cap of $89.58 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The business has a fifty day moving average price of $324.90 and a 200-day moving average price of $309.92. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.
The Cigna Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.80%. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.
Wall Street Analysts Forecast Growth
CI has been the subject of a number of recent research reports. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Piper Sandler upped their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday. Cowen reaffirmed a "buy" rating on shares of The Cigna Group in a research note on Monday. Stephens reduced their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Guggenheim restated a "buy" rating and set a $388.00 price objective (up previously from $384.00) on shares of The Cigna Group in a report on Monday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $378.22.
Check Out Our Latest Analysis on The Cigna Group
Insider Buying and Selling at The Cigna Group
In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company's stock, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Cordani sold 26,527 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.
Institutional Trading of The Cigna Group
An institutional investor recently raised its position in The Cigna Group stock. Brighton Jones LLC raised its stake in The Cigna Group (NYSE:CI - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,736 shares of the health services provider's stock after purchasing an additional 318 shares during the period. Brighton Jones LLC's holdings in The Cigna Group were worth $1,032,000 at the end of the most recent quarter. Institutional investors own 86.99% of the company's stock.
The Cigna Group Company Profile
(
Get Free Report)
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.
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