In the latest trading session, 1.74 million Cigna Group (NYSE:CI) shares changed hands as the company’s beta touched 0.50. With the company’s most recent per share price at $321.53 changed hands at -$14.47 or -4.31% at last look, the market valuation stands at $89.88B. CI’s current price is a discount, trading about -15.33% off its 52-week high of $370.83. The share price had its 52-week low at $253.95, which suggests the last value was 21.02% up since then. When we look at Cigna Group’s average trading volume, we note the 10-day average is 1.2 million shares, with the 3-month average coming to 1.25 million.
Analysts gave the Cigna Group (CI) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.46. If we narrow down to specifics, the data shows that 0 out of 26 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended CI as a Hold, 21 felt it is a Buy and 0 rated the stock as Underweight. Cigna Group’s EPS for the current quarter is expected to be 7.2.
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Cigna Group (NYSE:CI) trade information
Instantly CI was in red as seen in intraday trades today. With action -8.51%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 7.37%, with the 5-day performance at -8.51% in the red. However, in the 30-day time frame, Cigna Group (NYSE:CI) is -9.72% down. Looking at the short shares, we see there were 3.08 million shares sold at short interest cover period of 2.46 days.
The consensus price target for the stock as assigned by Wall Street analysts is 330, meaning bulls need an upside of 2.57% from its recent market value. According to analyst projections, CI’s forecast low is 225 with 407 as the target high. To hit the forecast high, the stock’s price needs a -26.58% plunge from its current level, while the stock would need to tank 30.02% for it to hit the projected low.
Cigna Group (CI) estimates and forecasts
Data shows that the Cigna Group share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -8.96% over the past 6 months, a 13.51% in annual growth rate that is considerably higher than the industry average of -1.30%. Year-over-year growth is forecast to reach 22.10% up from the last financial year.
Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of 59.35B. 16 analysts are of the opinion that Cigna Group’s revenue for the current quarter will be 61.05B. The company’s revenue for the corresponding quarters a year ago was 48.2B and 51.11B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 23.10%. The estimates for the next quarter sales put growth at 19.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 10.54%. The 2024 estimates are for Cigna Group earnings to increase by 13.55%, but the outlook for the next 5-year period is at 11.14% per year.
CI Dividends
Cigna Group is expected to release its next quarterly earnings report on 2024-Oct-31. The 1.69% annual yield figure for the share gives it an annual dividend of 5.43. It is important to note, however, that the 1.69% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 1.04 per year.
Cigna Group (NYSE:CI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.57% of Cigna Group shares while 88.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.40%. There are 88.98% institutions holding the Cigna Group stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 9.1414% of the shares, roughly 26.19 million CI shares worth $8.66 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 8.3188% or 23.83 million shares worth $7.88 billion as of 2024-06-30.
