The Cigna Group (NYSE:CI) Sees Unusually-High Trading Volume – Should You Buy?

The Cigna Group (NYSE:CI) shares saw unusually-high trading volume on Monday . Approximately 1,243,030 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 1,479,844 shares.The stock last traded at $321.00 and had previously closed at $336.00.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Piper Sandler initiated coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Performance

The company’s 50-day simple moving average is $350.20 and its 200-day simple moving average is $343.58. The stock has a market cap of $90.18 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

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

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred 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 transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CI. Harvey Investment Co. LLC purchased a new stake in The Cigna Group in the 3rd quarter worth about $206,000. Global Assets Advisory LLC purchased a new stake in shares of The Cigna Group in the third quarter worth approximately $209,000. Brighton Jones LLC boosted its holdings in shares of The Cigna Group by 6.2% during the third quarter. Brighton Jones LLC now owns 3,418 shares of the health services provider’s stock worth $1,184,000 after purchasing an additional 200 shares during the period. YHB Investment Advisors Inc. grew its position in The Cigna Group by 18.7% during the third quarter. YHB Investment Advisors Inc. now owns 2,303 shares of the health services provider’s stock valued at $798,000 after purchasing an additional 363 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after buying an additional 399,230 shares during the period. Institutional investors and hedge funds 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.