The Cigna Group (NYSE:CI) Short Interest Down 10.9% in November

The Cigna Group (NYSE:CI) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 3,190,000 shares, a decrease of 10.9% from the November 15th total of 3,580,000 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on CI. JPMorgan Chase & Co. boosted 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 report on Wednesday, August 21st. Piper Sandler restated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Barclays boosted their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $394.64.

The Cigna Group Stock Performance

CI traded down $7.75 on Tuesday, reaching $265.51. The company had a trading volume of 4,482,831 shares, compared to its average volume of 1,603,976. The company’s fifty day moving average is $323.54 and its 200 day moving average is $335.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $73.85 billion, a P/E ratio of 25.05, a P/E/G ratio of 0.88 and a beta of 0.50. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The business 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 firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted $6.77 EPS. As a group, analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ulland Investment Advisors LLC increased its holdings in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC bought a new position in The Cigna Group in the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter valued at approximately $45,000. Private Ocean LLC lifted its stake in The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $69,000. Institutional investors and hedge funds 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.