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

The Cigna Group (NYSE:CI) saw unusually large options trading activity on Friday. Traders purchased 16,328 call options on the stock. This represents an increase of 360% compared to the average volume of 3,548 call options.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $3.19 on Friday, hitting $284.16. The stock had a trading volume of 1,892,393 shares, compared to its average volume of 1,544,036. The stock has a market cap of $79.04 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. 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 has a twelve month low of $262.03 and a twelve month high of $370.83. The business’s 50 day moving average is $302.08 and its two-hundred day moving average is $327.07.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the business posted $6.77 earnings per share. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. Analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Truist Financial dropped 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 report on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Barclays upped their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced 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. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $395.93.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after purchasing an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of The Cigna Group by 145.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock valued at $225,899,000 after purchasing an additional 404,791 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after purchasing an additional 399,230 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of The Cigna Group by 526.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock worth $120,174,000 after buying an additional 305,490 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

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.