The Cigna Group (NYSE:CI) Stock Price Down 4.6% – Time to Sell?

The Cigna Group (NYSE:CI)’s stock price dropped 4.6% on Wednesday . The company traded as low as $295.83 and last traded at $296.99. Approximately 906,280 shares changed hands during trading, a decline of 41% from the average daily volume of 1,546,894 shares. The stock had previously closed at $311.37.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CI shares. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler reissued an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Down 5.0 %

The firm’s 50-day moving average price is $329.73 and its 200 day moving average price is $337.77. 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 company has a market capitalization of $82.29 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 0.96 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm 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 business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. On average, sell-side analysts forecast that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Institutional Trading of The Cigna Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Checchi Capital Advisers LLC raised its holdings in The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares during the last quarter. IFG Advisors LLC lifted its holdings in The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares during the period. McClarren Financial Advisors Inc. boosted its position in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 31 shares during the last quarter. Finally, Saxony Capital Management LLC grew its holdings in The Cigna Group by 5.3% during the 2nd quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock worth $211,000 after acquiring an additional 32 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Company Profile

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.