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

The Cigna Group (NYSE:CI) shares 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 trading hands. The stock had previously closed at $364.72.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Monday. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Down 0.2 %

The firm’s fifty day moving average price is $346.11 and its 200-day moving average price is $344.75. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the firm posted $6.13 earnings per share. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. Sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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

Insider Buying and Selling

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

Institutional Trading of The Cigna Group

A number of institutional investors have recently bought and sold shares of CI. Vanguard Group Inc. boosted its position in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after acquiring an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares in the last quarter. Focused Investors Fund L P bought a new position in shares of The Cigna Group during the 1st quarter worth about $205,529,000. Finally, Swedbank AB bought a new position in shares of The Cigna Group during the 1st quarter worth about $161,300,000. 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.