The Cigna Group (NYSE:CI) Trading Down 5.6% – Should You Sell?

The Cigna Group (NYSE:CI)’s share price was down 5.6% during mid-day trading on Monday . The stock traded as low as $309.59 and last traded at $314.73. Approximately 1,087,319 shares changed hands during trading, a decline of 36% from the average daily volume of 1,695,577 shares. The stock had previously closed at $333.46.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CI shares. Stephens decreased their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Barclays increased their price target on The Cigna Group from $339.00 to $382.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. Finally, Piper Sandler increased their price target on The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $379.33.

The Cigna Group Price Performance

The firm has a market cap of $84.12 billion, a PE ratio of 25.73, a PEG ratio of 0.98 and a beta of 0.47. The firm has a fifty day simple moving average of $325.84 and a two-hundred day simple moving average of $310.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.47 EPS. Equities analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s payout ratio is currently 33.44%.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 in the last quarter. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of The Cigna Group by 20.8% in the first quarter. Covestor Ltd now owns 1,045 shares of the health services provider’s stock worth $344,000 after buying an additional 180 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in The Cigna Group by 17.2% during the first quarter. Frank Rimerman Advisors LLC now owns 2,896 shares of the health services provider’s stock worth $953,000 after purchasing an additional 424 shares in the last quarter. Koss Olinger Consulting LLC purchased a new position in The Cigna Group during the first quarter worth approximately $326,000. Zions Bancorporation National Association UT purchased a new position in shares of The Cigna Group in the first quarter valued at approximately $385,000. Finally, Townsquare Capital LLC lifted its position in shares of The Cigna Group by 4.6% in the first quarter. Townsquare Capital LLC now owns 37,260 shares of the health services provider’s stock valued at $12,259,000 after acquiring an additional 1,626 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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.