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

The Cigna Group (NYSE:CI) shares gapped down before the market opened on Thursday following a dissappointing 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 changing hands.

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

Analysts Set New Price Targets

CI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased 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. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $395.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CI. IFG Advisors LLC boosted its holdings in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after acquiring an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in shares of The Cigna Group by 4.7% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares in the last quarter. Castle Rock Wealth Management LLC lifted its position in shares of The Cigna Group by 0.5% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock valued at $2,263,000 after acquiring an additional 34 shares during the last quarter. Adero Partners LLC grew its stake in The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after acquiring an additional 34 shares in the last quarter. Finally, Waldron Private Wealth LLC increased its holdings in shares of The Cigna Group by 1.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock valued at $1,265,000 after purchasing an additional 35 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

The firm’s fifty day moving average is $296.05 and its 200 day moving average is $324.99. 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 company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

About The Cigna Group

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.