The Cigna Group (NYSE:CI) Short Interest Update

The Cigna Group (NYSE:CI) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 2,840,000 shares, a decrease of 7.8% from the September 30th total of 3,080,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is presently 2.1 days.

The Cigna Group Trading Up 0.6 %

Shares of The Cigna Group stock traded up $2.02 during trading on Thursday, reaching $314.91. The company’s stock had a trading volume of 3,506,289 shares, compared to its average volume of 1,520,615. The Cigna Group has a 52-week low of $253.95 and a 52-week 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 firm’s 50-day moving average is $347.15 and its two-hundred day moving average is $341.96. The company has a market cap of $89.46 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the previous year, the firm posted $6.13 earnings per share. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

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 dividend yield of 1.78%. The Cigna Group’s payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CI shares. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $392.79.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The shares were 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 owns 17,539 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Cigna Group

Institutional investors have recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators increased its position in shares of The Cigna Group by 5.6% in the third quarter. Deseret Mutual Benefit Administrators now owns 751 shares of the health services provider’s stock worth $260,000 after acquiring an additional 40 shares in the last quarter. Montecito Bank & Trust increased its position in shares of The Cigna Group by 138.2% in the 3rd quarter. Montecito Bank & Trust now owns 1,989 shares of the health services provider’s stock valued at $689,000 after buying an additional 1,154 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares during the last quarter. Graypoint LLC raised its holdings in The Cigna Group by 3.3% in the 3rd quarter. Graypoint LLC now owns 3,041 shares of the health services provider’s stock valued at $1,053,000 after acquiring an additional 96 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in shares of The Cigna Group by 1.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,064 shares of the health services provider’s stock worth $1,408,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors 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.