Stock Traders Buy Large Volume of The Cigna Group Call Options (NYSE:CI)

The Cigna Group (NYSE:CI) was the recipient of unusually large options trading on Friday. Stock investors purchased 16,328 call options on the stock. This represents an increase of 360% compared to the typical volume of 3,548 call options.

Institutional Investors Weigh In On The Cigna Group

Several institutional investors have recently bought and sold shares of CI. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at $34,000. Ulland Investment Advisors LLC raised its position in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the third quarter worth about $37,000. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group in the third quarter worth about $45,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of The Cigna Group in the third quarter valued at about $69,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 1.1 %

CI stock opened at $284.16 on Friday. 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 company has a market cap of $79.04 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54. The business has a fifty day simple moving average of $302.08 and a 200-day simple moving average of $327.07. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

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

The Cigna Group Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.97%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Royal Bank of Canada dropped their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial cut their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $395.93.

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.