Dodge & Cox has recently announced that it has increased stake in Cigna Group (NYSE:CI) by 11.67%. After grabbing 13.43 million shares, the institutional investor is now in possession of 1.4 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.54% having worth around $4.15 billion. Moreover, Massachusetts Financial Services increased its share by 0.35 million to have a control over 11.83 million shares. And Fidelity Management & Research Co raised its holdings to 1.54 million shares by acquiring 11.45 million shares or 3.87% of the stake.
Cigna Group (CI) concluded trading on 12/07/23 at a closing price of $257.94, with 2.53 million shares of worth about $653.16 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.48% during that period and on Thursday the price saw a gain of about 0.17%. Currently the company’s common shares owned by public are about 298.68M shares, out of which, 287.18M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the CI stock and their offered price forecasts bring an average price target of $348.05. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $385.00 and could fall to a lowest price of $292.10. The stock’s current price level is 26.22% above of average price target set by the analysts, while a rise to estimated low would result in gain of 11.69% for the stock. However, touching the estimated high of $385.00 would mean a gain of 33.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 45 times over the past 12 months. They bought 64,785 shares in 27 of the transactions. In 18 selling transactions, insiders dumped 62,270 shares.
Vanguard Total Stock Market ETF, Dodge & Cox Stock Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Cigna Group Vanguard Total Stock Market ETF is currently holding 9.27 million shares of worth totaling $2.87 billion. The company recently came buying 49657.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Dodge & Cox Stock Fund bought 1.11 million shares, after which its hold over company’s outstanding shares expand to 3.12%, leaving 9.22 million shares with the mutual fund that have a worth of about $2.85 billion. Vanguard 500 Index Fund, after buying 7.15 million shares, have now control over 2.42% of the stake in the company. It holds 34944.0 shares of worth $2.21 billion.
Cigna Group (NYSE: CI) started trading at $257.55, above $0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 258.50, or with a gain of 0.17%. Stock saw a price change of -1.88% in past 5 days and over the past one month there was a price change of -12.57%. Year-to-date (YTD), CI shares are showing a performance of -22.15% which decreased to -21.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $240.50 but also hit the highest price of $340.11 during that period. The average intraday trading volume for Cigna Group shares is 1.63 million. The stock is currently trading -7.91% below its 20-day simple moving average (SMA20), while that difference is down -11.65% for SMA50 and it goes to -7.14% lower than SMA200.
Dodge & Cox acquired 13.43 million shares of Cigna Group having value of about $4.15 billion. Data submitted at the U.S SEC by Dodge & Cox revealed that the firm now holds 1.4 million shares in the company valued at close to $361909423.44, or have control over 11.67% stake in the company. Cigna Group (NYSE: CI) currently have 298.68M outstanding shares and institutions hold larger chunk of about 88.78% of that. Holding of mutual funds in the company is about 37.44% while other institutional holders and individual stake holders have control over 51.24% and 1.90% of the stake respectively.
The stock has a current market capitalization of $75.48B and its 3Y-monthly beta is at 0.50. PE ratio of stock for trailing 12 months is 14.56, while it has posted earnings per share of $17.72 in the same period. Its PEG reads 1.30 while making debt-to-equity ratio of 0.68. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CI, volatility over the week remained 2.35% while standing at 2.49% over the month.
Analysts are in expectations that Cigna Group (CI) stock would likely to be making an EPS of $6.54 in the current quarter, while forecast for next quarter EPS is $6.35 and it is $28.22 for next year. For the current quarter EPS, analysts have given the company a lowest target $6.45 which is $6.69 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $4.96 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.71% while it is estimated to increase by 13.63% in next year. EPS is likely to shrink at an annualized rate of 11.20% for next 5-years, compared to annual growth of 19.42% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the Cigna Group (CI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 23 Wall Street analysts, 11 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
