The Cigna Group Target of Unusually High Options Trading (NYSE:CI)

The Cigna Group (NYSE:CI) was the target of unusually large options trading activity on Friday. Investors bought 16,328 call options on the stock. This represents an increase of approximately 360% compared to the average daily volume of 3,548 call options.

Hedge Funds Weigh In On The Cigna Group

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

The Cigna Group Price Performance

Shares of CI opened at $284.16 on Friday. The firm has a market capitalization of $79.04 billion, a PE ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54. The company’s 50-day moving average is $301.37 and its 200-day moving average is $326.78. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last released its quarterly 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 Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the firm earned $6.77 earnings per share. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

Analysts Set New Price Targets

CI has been the subject of several recent research reports. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial cut their price target 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target 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.