The Cigna Group (NYSE:CI) Shares Down 4.6% – Should You Sell?

Shares of The Cigna Group (NYSE:CI) traded down 4.6% during mid-day trading on Wednesday . The company traded as low as $295.83 and last traded at $296.99. 906,280 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,546,894 shares. The stock had previously closed at $311.37.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $394.64.

The Cigna Group Price Performance

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a 50-day simple moving average of $327.65 and a 200 day simple moving average of $337.08. The stock has a market capitalization of $79.40 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $6.77 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its position in The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares during the period. Marks Group Wealth Management Inc raised its position in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares during the last quarter. Raymond James & Associates lifted its stake in shares of The Cigna Group by 3.2% in the second quarter. Raymond James & Associates now owns 602,339 shares of the health services provider’s stock valued at $199,115,000 after buying an additional 18,733 shares during the period. Trinity Street Asset Management LLP grew its position in The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after buying an additional 5,397 shares in the last quarter. Finally, OFI Invest Asset Management increased its stake in The Cigna Group by 3,886.9% during the second quarter. OFI Invest Asset Management now owns 3,947 shares of the health services provider’s stock valued at $1,217,000 after acquiring an additional 3,848 shares during the period. Institutional investors own 86.99% of the company’s stock.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.