Taking on analysts’ expectations and winning: The Cigna Group (CI)

The Cigna Group (NYSE: CI) stock fell -0.67% on Thursday to $283.31 against a previous-day closing price of $285.21. With 0.89 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.45 million shares. During the session, the Healthcare Plans company that operates in wider Healthcare sector, reached to the highest price of $288.83 whereas the lowest price it dropped to was $281.81. The 52-week range on CI shows that it touched its highest point at $340.11 and its lowest point at $240.50 during that stretch. It currently has a 1-year price target of $333.67. With its current market cap of 83.80 billion, CI has annualized dividend of $4.92 while the current yield stands at 1.74%. Beta for the stock currently stands at 0.66.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CI was up-trending over the past week, with a rise of 0.72%, but this was down by -2.07% over a month. Three-month performance surged to 7.41% while six-month performance rose 4.79%. The stock lost -1.22% in the past year, while it has lost -14.50% so far this year. A look at the trailing 12-month EPS for CI yields 21.95 with Next year EPS estimates of 28.29. For the next quarter, that number is 6.67. This implies an EPS growth rate of 35.40% for this year and 14.00% for next year. EPS is expected to grow by 11.06% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 17.10%.

Float and Shares Shorts:

At present, 294.50 million CI shares are outstanding with a float of 291.39 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.71 million, which was 0.92% higher than short shares on Jul 30, 2023. In addition to Mr. David Michael Cordani as the firm’s Pres, CEO & Chair of the Board, Mr. Brian C. Evanko serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 89.37% of CI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.94% of CI, in contrast to 38.32% held by mutual funds. Shares owned by individuals account for 1.90%. As the largest shareholder in CI with 8.02% of the stake, The Vanguard Group, Inc. holds 23,740,942 shares worth 23,740,942. A second-largest stockholder of CI, SSgA Funds Management, Inc., holds 13,881,798 shares, controlling over 4.69% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in CI, holding 13,458,192 shares or 4.55% stake. With a 3.12% stake in CI, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 9,217,768 shares are owned by the mutual fund manager. The Dodge & Cox Stock Fund, which owns about 2.74% of CI stock, is the second-largest Mutual Fund holder. It holds 8,107,486 shares valued at 2.39 billion. Vanguard 500 Index Fund holds 2.40% of the stake in CI, owning 7,085,995 shares worth 2.09 billion.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CI analysts setting a high price target of $385.00 and a low target of $300.00, the average target price over the next 12 months is $337.36. Based on these targets, CI could surge 35.89% to reach the target high and rise by 5.89% to reach the target low. Reaching the average price target will result in a growth of 19.08% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CI stock several times over the past three months with 9 Buys and 6 Sells. In these transactions, 21,584 shares were bought while 37,506 shares were sold. The number of buy transactions has increased to 51 while that of sell transactions has risen to 54 over the past year. The total number of shares bought during that period was 232,535 while 204,245 shares were sold.

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