The Cigna Group (NYSE:CI - Get Free Report) announced its earnings results on Friday. The health services provider reported $6.74 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.39, Zacks reports. The firm had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.47 EPS.
The Cigna Group Stock Up 0.3 %
Shares of NYSE CI traded up $1.00 during midday trading on Tuesday, hitting $334.01. The company's stock had a trading volume of 1,825,726 shares, compared to its average volume of 1,700,114. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The business's fifty day simple moving average is $323.77 and its two-hundred day simple moving average is $309.57. The firm has a market capitalization of $91.41 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.
The Cigna Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 49.35%.
Analyst Ratings Changes
CI has been the topic of a number of research analyst reports. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Raymond James reiterated a "strong-buy" rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Barclays lifted their target price on shares of The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a report on Monday. Mizuho boosted their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, The Cigna Group has an average rating of "Buy" and an average price target of $378.22.
View Our Latest Report on CI
Insider Buying and Selling at The Cigna Group
In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last 90 days. Company insiders own 0.70% of the company's stock.
Institutional Investors Weigh In On The Cigna Group
An institutional investor recently raised its position in The Cigna Group stock. Brighton Jones LLC lifted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,736 shares of the health services provider's stock after acquiring 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 reporting period. Hedge funds and other institutional investors own 86.99% of the company's stock.
About The Cigna Group
(
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.
Featured Articles
Before you consider The Cigna Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Cigna Group wasn't on the list.
While The Cigna Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
