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

The Cigna Group (NYSE:CI - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $273.26, but opened at $263.67. The Cigna Group shares last traded at $268.38, with a volume of 472,012 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CI shares. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Piper Sandler reiterated an "overweight" rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Stephens reiterated an "overweight" rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has a consensus rating of "Buy" and a consensus price target of $394.64.

The Cigna Group Stock Performance

The firm's 50-day moving average price is $325.11 and its 200-day moving average price is $336.37. The stock has a market cap of $73.85 billion, a P/E ratio of 25.77, a PEG ratio of 0.88 and a beta of 0.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company's revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the company earned $6.77 EPS. Sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 2.11%. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC lifted its stake 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 valued at $1,185,000 after acquiring an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of The Cigna Group by 1.4% during the 2nd 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 period. IFG Advisors LLC increased its stake in shares of The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider's stock worth $242,000 after purchasing an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. increased its stake in The Cigna Group by 4.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider's stock worth $240,000 after buying an additional 31 shares in the last quarter. Finally, Saxony Capital Management LLC raised its holdings in shares of The Cigna Group by 5.3% during the second quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider's stock valued at $211,000 after acquiring an additional 32 shares during 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.