The Cigna (CI) Group Falls 10% as Earnings Disappoint

We recently published Massive Sell-Off: 10 Stocks in a Bloodbath. The Cigna Group (NYSE:CI) is one of the worst-performing stocks on Thursday.

The Cigna Group declined by 10.23 percent on Thursday to close at $267.38 apiece as investor sentiment was dampened by its flat earnings performance in the second quarter of the year.

In its updated report, The Cigna Group (NYSE:CI) said net income attributable to shareholders ended flat at $1.5 billion, despite total revenues increasing by 11 percent to $67.18 billion from $60.5 billion.

Higher revenues were driven by Evernorth Health Services and include growth of existing client relationships and strong specialty pharmacy growth.

In a statement, The Cigna Group (NYSE:CI) Chairman and CEO David Cordani said that the company’s performance in the second quarter reflects the disciplined execution and the strength of the group’s business mix.

“Listening, adapting, and innovating to meet the evolving needs of our patients, customers, and clients enables us to deliver meaningful value,” he noted.

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