The Cigna Group (NYSE:CI) Shares Gap Down on Disappointing Earnings

The Cigna Group (NYSE:CIGet Free Report)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $303.31, but opened at $275.00. The Cigna Group shares last traded at $275.16, with a volume of 951,363 shares.

The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same quarter in the previous year, the company posted $6.79 earnings per share.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Truist Financial cut their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $395.93.

View Our Latest Report on CI

Institutional Investors Weigh In On The Cigna Group

Large investors have recently made changes to their positions in the company. Sterling Financial Group Inc. acquired a new stake in The Cigna Group in the 4th quarter valued at about $4,367,000. Marks Group Wealth Management Inc grew its stake in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP raised its position in The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after purchasing an additional 5,397 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after buying an additional 3,466 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

The stock has a 50-day simple moving average of $296.05 and a 200 day simple moving average of $324.99. The stock has a market capitalization of $78.56 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. 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 Cigna Group Company Profile

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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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