Short Interest in The Cigna Group (NYSE:CI) Expands By 44.5%

The Cigna Group (NYSE:CI) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 4,610,000 shares, an increase of 44.5% from the November 30th total of 3,190,000 shares. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.7% of the shares of the company are sold short.

The Cigna Group Stock Down 0.9 %

NYSE:CI traded down $2.58 during trading hours on Monday, reaching $276.13. 240,336 shares of the stock were exchanged, compared to its average volume of 1,621,044. 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 Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market cap of $76.81 billion, a PE ratio of 26.05, a PEG ratio of 0.88 and a beta of 0.50. The firm has a 50 day moving average of $312.36 and a 200 day moving average of $332.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during 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 business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 earnings per share. On average, equities analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CI shares. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $394.64.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CI. Van ECK Associates Corp lifted its position in The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares during the last quarter. Marks Group Wealth Management Inc grew its holdings in The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares in the last quarter. Principal Financial Group Inc. increased its position in 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 period. Trinity Street Asset Management LLP lifted its holdings in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after buying an additional 5,397 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its position in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after acquiring an additional 3,466 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

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.