The Cigna Group (NYSE:CI) Short Interest Up 8.1% in September

The Cigna Group (NYSE:CI) saw a large growth in short interest during the month of 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. Approximately 1.3% of the shares of the stock are sold short. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Jefferies Financial Group raised their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Monday, September 16th. One equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Down 0.4 %

The Cigna Group stock opened at $346.44 on Tuesday. The company has a market capitalization of $98.41 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.08 and a beta of 0.50. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The firm’s fifty day simple moving average is $348.38 and its 200-day simple moving average is $345.28. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.13 earnings per share. Sell-side analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Activity

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 stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Several large investors have recently modified their holdings of CI. Gryphon Financial Partners LLC acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $230,000. Stifel Financial Corp increased its position in The Cigna Group by 6.1% during the fourth quarter. Stifel Financial Corp now owns 86,827 shares of the health services provider’s stock worth $26,002,000 after acquiring an additional 4,992 shares during the period. Focus Financial Network Inc. ADV acquired a new position in The Cigna Group during the 4th quarter valued at $354,000. Evoke Wealth LLC boosted its holdings in The Cigna Group by 11.3% in the 4th quarter. Evoke Wealth LLC now owns 973 shares of the health services provider’s stock valued at $291,000 after purchasing an additional 99 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its position in The Cigna Group by 1.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,132 shares of the health services provider’s stock worth $638,000 after purchasing an additional 36 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

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.