The Cigna Group (NYSE:CI) Short Interest Update

The Cigna Group (NYSE:CI) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,450,000 shares, an increase of 21.5% from the October 15th total of 2,840,000 shares. Based on an average daily trading volume, of 1,450,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.3% of the shares of the company are short sold.

The Cigna Group Trading Down 0.7 %

NYSE:CI traded down $2.36 on Friday, hitting $321.52. The stock had a trading volume of 1,650,180 shares, compared to its average volume of 2,250,354. The company has a fifty day moving average price of $338.88 and a two-hundred day moving average price of $339.42. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market cap of $89.43 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. Equities research analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CI. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Finally, Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One research 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 company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $394.64.

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 13.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group in the first quarter valued at $29,000. TruNorth Capital Management LLC acquired a new position in The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC increased its stake 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 purchasing an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the third quarter worth about $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the third quarter worth about $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.