Short Interest in The Cigna Group (NYSE:CI) Grows By 8.1%

The Cigna Group (NYSE:CI) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 3,610,000 shares, a growth of 8.1% from the August 31st total of 3,340,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is presently 2.8 days.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $347.70 on Monday. The firm has a market cap of $98.77 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The Cigna Group has a 12-month low of $253.95 and a 12-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 company’s fifty day simple moving average is $348.16 and its two-hundred day simple moving average is $345.30.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.13 EPS. As a group, equities analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

A number of large investors have recently modified their holdings of the stock. Gryphon Financial Partners LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $230,000. Stifel Financial Corp lifted its position in The Cigna Group by 6.1% during the 4th quarter. Stifel Financial Corp now owns 86,827 shares of the health services provider’s stock valued at $26,002,000 after acquiring an additional 4,992 shares during the period. Focus Financial Network Inc. ADV purchased a new position in The Cigna Group in the fourth quarter worth about $354,000. Evoke Wealth LLC raised its holdings in The Cigna Group by 11.3% in the fourth quarter. Evoke Wealth LLC now owns 973 shares of the health services provider’s stock worth $291,000 after buying an additional 99 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in The Cigna Group by 1.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,132 shares of the health services provider’s stock worth $638,000 after buying an additional 36 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CI. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group lifted their target price 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. Finally, Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $392.79.

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.