Cigna Group (NYSE:CI) Short Interest Update

Key Points

• Cigna Group experienced a significant increase in short interest, rising by 35.5% to a total of 3,320,000 shares as of August 15th, 2023.
• The company reported $7.20 EPS for the last quarter, surpassing estimates and showing an 11% year-over-year revenue growth.
• Cigna recently declared a quarterly dividend of $1.51 per share, with a dividend yield of 2.0%, scheduled for payment on September 18th.

Cigna Group (NYSE:CI - Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 3,320,000 shares, agrowthof35.5% from the July 31st total of 2,450,000 shares. Based on an average trading volume of 1,880,000 shares, the days-to-cover ratio is presently 1.8 days. Currently,1.3% of the company's shares are sold short. Currently,1.3% of the company's shares are sold short. Based on an average trading volume of 1,880,000 shares, the days-to-cover ratio is presently 1.8 days.

Cigna Group Stock Down 1.5%

CI traded down $4.58 during midday trading on Monday, reaching $300.73. The company's stock had a trading volume of 1,208,914 shares, compared to its average volume of 1,520,955. The firm has a market capitalization of $80.27 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.89 and a beta of 0.48. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83. The stock's 50-day moving average is $297.09 and its 200-day moving average is $312.18.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the prior year, the company posted $6.72 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group's dividend payout ratio is presently 32.97%.

Insider Activity

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On Cigna Group

Institutional investors have recently made changes to their positions in the company. Family Legacy Inc. raised its position in shares of Cigna Group by 0.5% during the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after purchasing an additional 31 shares during the period. Impact Investors Inc raised its position in shares of Cigna Group by 1.6% during the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after purchasing an additional 31 shares during the period. Mission Wealth Management LP raised its position in shares of Cigna Group by 1.5% during the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares during the period. Westend Capital Management LLC raised its position in shares of Cigna Group by 8.1% during the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares during the period. Finally, Moody National Bank Trust Division increased its holdings in Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Truist Financial set a $375.00 price target on shares of Cigna Group in a research report on Tuesday, September 2nd. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cigna Group has a consensus rating of "Buy" and a consensus target price of $374.76.

About 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.

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