The Cigna Group (NYSE:CI) Stock Price Down 3.8% – What’s Next?

The Cigna Group (NYSE:CI) dropped 3.8% on Friday . The company traded as low as $339.10 and last traded at $339.60. Approximately 411,906 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,469,628 shares. The stock had previously closed at $353.12.

Analysts Set New Price Targets

Several analysts have recently commented on CI shares. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Down 4.8 %

The firm has a market capitalization of $95.45 billion, a P/E ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50-day moving average is $350.66 and its 200 day moving average is $344.29.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $6.13 EPS. As a group, equities research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC bought a new stake in The Cigna Group in the 1st quarter valued at $29,000. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group in the second quarter valued at about $33,000. Ulland Investment Advisors LLC increased its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group in the 2nd quarter worth about $66,000. Finally, Private Ocean LLC boosted its holdings in The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares during the period. 86.99% of the stock is owned by institutional investors.

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.