The Cigna Group (NYSE:CI - Get Free Report) was the target of a large increase in short interest in 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. Approximately 1.7% of the company's stock are sold short. Based on an average daily volume of 1,970,000 shares, the short-interest ratio is presently 2.3 days.
Institutional Trading of The Cigna Group
Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings 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 valued at $112,216,000 after buying an additional 11,228 shares during the period. Lord Abbett & CO. LLC increased its position in The Cigna Group by 39.7% during the third quarter. Lord Abbett & CO. LLC now owns 6,417 shares of the health services provider's stock valued at $2,223,000 after acquiring an additional 1,823 shares during the last quarter. Copley Financial Group Inc. purchased a new stake in shares of The Cigna Group in the third quarter valued at $433,000. Synovus Financial Corp lifted its holdings in shares of The Cigna Group by 3.0% in the 3rd quarter. Synovus Financial Corp now owns 6,994 shares of the health services provider's stock worth $2,424,000 after acquiring an additional 206 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of The Cigna Group by 11.3% during the 3rd quarter. Tidal Investments LLC now owns 15,520 shares of the health services provider's stock worth $5,377,000 after purchasing an additional 1,576 shares during the period. 86.99% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on CI shares. Stephens reaffirmed an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Cantor Fitzgerald reissued an "overweight" rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Piper Sandler reaffirmed an "overweight" rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a report on Monday, November 4th. One 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 company has an average rating of "Buy" and an average price target of $394.64.
Read Our Latest Stock Analysis on The Cigna Group
The Cigna Group Price Performance
CI stock traded down $3.57 during mid-day trading on Monday, hitting $275.14. The company had a trading volume of 1,271,055 shares, compared to its average volume of 1,625,261. The company has a 50-day moving average price of $311.45 and a 200 day moving average price of $332.12. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market capitalization of $76.53 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 0.88 and a beta of 0.50. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.
The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. On average, research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.
The Cigna Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 2.04%. The Cigna Group's dividend payout ratio (DPR) is currently 52.83%.
The Cigna Group Company Profile
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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.
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