The Cigna Group (NYSE:CI) Short Interest Update

The Cigna Group (NYSE:CI) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,190,000 shares, a decrease of 10.9% from the November 15th total of 3,580,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is currently 2.0 days.

The Cigna Group Price Performance

Shares of CI traded down $7.75 during mid-day trading on Tuesday, hitting $265.51. The company’s stock had a trading volume of 4,482,831 shares, compared to its average volume of 1,603,976. 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 firm has a 50-day moving average price of $323.54 and a 200 day moving average price of $335.82. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a market capitalization of $73.85 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 0.88 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping 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 was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $6.77 EPS. On average, research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed 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. This represents a $5.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Institutional Trading of The Cigna Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ulland Investment Advisors LLC raised 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 valued at $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the 3rd quarter valued at $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $45,000. Private Ocean LLC boosted its holdings in The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in The Cigna Group in the third quarter worth $69,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Barclays boosted their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $394.64.

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.