The Cigna Group (NYSE:CI) Short Interest Update

by · The Cerbat Gem

The Cigna Group (NYSE:CI – Get Free Report) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,840,000 shares, a decline of 7.8% from the September 30th total of 3,080,000 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 2.1 days.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $2.02 on Thursday, hitting $314.91. The stock had a trading volume of 3,506,289 shares, compared to its average volume of 1,520,615. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $347.15 and its two-hundred day moving average is $341.96. The stock has a market cap of $89.46 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.

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

The Cigna Group Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.78%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Ratings Changes

CI has been the subject of several research reports. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price 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. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $392.79.

Check Out Our Latest Report on CI

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Cigna Group

Large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in shares of The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after purchasing an additional 625 shares during the last quarter. Hancock Whitney Corp raised its stake in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after acquiring an additional 1,629 shares in the last quarter. ORG Partners LLC acquired a new position in shares of The Cigna Group in the 2nd quarter valued at $489,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in The Cigna Group by 21.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after purchasing an additional 16,846 shares during the period. Finally, Tidal Investments LLC raised its position in shares of The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after buying an additional 4,043 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

About The Cigna Group

(Get Free Report)

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.

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