The Cigna Group (NYSE:CI) Shares Down 5.6% - Time to Sell?

The Cigna Group (NYSE:CI - Get Free Report) shares were down 5.6% on Monday . The company 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CI shares. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Morgan Stanley boosted their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. Finally, Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of "Buy" and a consensus price target of $379.33.

The Cigna Group Stock Down 0.0%

The business's 50 day moving average price is $325.30 and its 200-day moving average price is $309.89. The firm has a market capitalization of $81.03 billion, a PE ratio of 24.77, a P/E/G ratio of 0.98 and a beta of 0.47. 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 - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business's revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $6.47 EPS. As a group, equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.99%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is currently 33.44%.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Company insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of The Cigna Group in the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of The Cigna Group in the 4th quarter valued at $724,517,000. Nuveen LLC purchased a new position in shares of The Cigna Group in the 1st quarter valued at $727,905,000. GAMMA Investing LLC grew its position in shares of The Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after buying an additional 1,771,613 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of The Cigna Group in the 4th quarter valued at $313,911,000. Institutional investors and hedge funds own 86.99% of the company's stock.

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.