The Cigna Group (NYSE:CI) Sets New 52-Week High at $370.83

The Cigna Group (NYSE:CI)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $370.83 and last traded at $367.09, with a volume of 151579 shares. The stock had previously closed at $364.72.

Wall Street Analyst Weigh In

Several analysts recently commented on CI shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average of $346.11 and a 200-day moving average of $344.75. The firm has a market cap of $100.96 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.13 earnings per share. Research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is currently 45.98%.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Cigna Group

A number of institutional investors have recently made changes to their positions in the company. Silicon Valley Capital Partners boosted its stake in shares of The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group in the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. boosted its stake in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the second quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC bought a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Company Profile

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.