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

Shares of The Cigna Group (NYSE:CI) dropped 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 were traded during trading, a decline of 36% from the average daily volume of 1,695,577 shares. The stock had previously closed at $333.46.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. UBS Group lowered their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Finally, Cowen reissued a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Two investment 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. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $379.33.

The Cigna Group Trading Down 5.6%

The firm has a market capitalization of $84.12 billion, a PE ratio of 25.73, a P/E/G ratio of 0.98 and a beta of 0.47. The business has a 50 day moving average price of $325.84 and a 200-day moving average price of $310.01. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for 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 revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.47 EPS. Analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

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

Insider Buying and Selling

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 in the last quarter. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CI. Massachusetts Financial Services Co. MA raised its position in The Cigna Group by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock valued at $3,834,493,000 after purchasing an additional 98,715 shares during the period. Sanders Capital LLC grew its stake in shares of The Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock valued at $2,224,296,000 after acquiring an additional 154,420 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of The Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock valued at $1,640,878,000 after acquiring an additional 101,737 shares in the last quarter. GQG Partners LLC grew its stake in shares of The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after acquiring an additional 737,099 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $867,785,000. Institutional investors and hedge funds 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.