The Cigna Group (NYSE:CI) Shares Gap Down After Earnings Miss

The Cigna Group (NYSE:CI)’s stock price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. 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 trading hands.

The health services provider reported $6.64 earnings per share (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 period in the prior year, the business earned $6.79 earnings per share.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barclays increased their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $395.93.

Institutional Investors Weigh In On The Cigna Group

Institutional investors have recently added to or reduced their stakes in the business. Collier Financial purchased a new position in The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the 4th quarter valued at $34,000. Ulland Investment Advisors LLC grew its position in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the 3rd quarter worth approximately $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 8.2 %

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 firm has a market capitalization of $77.48 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 0.78 and a beta of 0.54. The firm has a fifty day moving average price of $296.05 and a 200 day moving average price of $324.99.

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.