The Cigna Group (NYSE:CI) Sees Large Increase in Short Interest

The Cigna Group (NYSE:CI) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 4,610,000 shares, a growth of 44.5% from the November 30th total of 3,190,000 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 1,970,000 shares, the days-to-cover ratio is presently 2.3 days.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research 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 company a “buy” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Finally, Barclays boosted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Performance

Shares of NYSE:CI traded down $2.53 during trading on Monday, hitting $276.18. 488,594 shares of the company were exchanged, compared to its average volume of 1,621,935. The company has a market cap of $76.82 billion, a PE ratio of 26.05, a P/E/G ratio of 0.88 and a beta of 0.50. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 stock has a 50 day moving average of $312.36 and a 200 day moving average of $332.54.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the company earned $6.77 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, equities research analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Institutional Investors Weigh In On The Cigna Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its position in shares of The Cigna Group by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares in the last quarter. IFG Advisors LLC lifted its position in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in shares of 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 valued at $240,000 after buying an additional 31 shares in the last quarter. SPC Financial Inc. grew its position in shares of The Cigna Group by 0.7% in the 2nd quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock worth $1,692,000 after buying an additional 34 shares during the period. Finally, Castle Rock Wealth Management LLC increased its stake in shares of The Cigna Group by 0.5% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Company Profile

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.