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

The Cigna Group (NYSE:CI) saw some unusual options trading activity on Friday. Investors purchased 16,328 call options on the stock. This is an increase of 360% compared to the typical daily volume of 3,548 call options.

Analyst Ratings Changes

CI has been the subject of a number of research reports. Royal Bank of Canada dropped their price target on 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. Piper Sandler reissued an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays upped their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $395.93.

Institutional Investors Weigh In On The Cigna Group

Several large investors have recently made changes to their positions in the business. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth approximately $34,000. Ulland Investment Advisors LLC raised its stake in shares of 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 buying an additional 100 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the third quarter valued at $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the 3rd quarter valued at $45,000. Finally, Intact Investment Management Inc. purchased a new stake in The Cigna Group in the 3rd quarter worth about $69,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 1.1 %

CI traded up $3.19 during mid-day trading on Friday, reaching $284.16. 1,892,393 shares of the stock were exchanged, compared to its average volume of 1,544,036. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 capitalization of $79.04 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The company has a 50 day moving average price of $302.08 and a two-hundred day moving average price of $327.07.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the business posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts anticipate that The Cigna Group will post 28.5 EPS 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 $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.97%. The Cigna Group’s dividend payout ratio is currently 52.83%.

About The 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.