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Here's Why Cigna (CI) is a Strong Momentum Stock

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Cigna (CI)

Headquartered in Bloomfield, CT and formed in 1982, Cigna Corporation has rebranded itself as The Cigna Group. The company was formed as a result of a merger between Connecticut General Life Insurance Company and Insurance Company of North America. Cigna completed its combination with Express Scripts Holding Company by 2018-end. Shares of the new combined company trade on the NYSE under the stock ticker symbol “CI.”

CI is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of A. Shares are up 0.7% over the past one week and up 0.2% over the past four weeks. CI has gained 39.8% in the last one-year period as well. Looking at trading volume, an average of 1,272,485.13 shares exchanged hands over the last 20 trading days.

Momentum investors also pay close attention to a company's earnings. For CI, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $28.35 per share for 2024. CI boasts an average earnings surprise of 2.9%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding CI to their portfolios.

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Cigna Group (CI) : Free Stock Analysis Report

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