Investors Purchase High Volume of The Cigna Group Call Options (NYSE:CI)

The Cigna Group (NYSE:CI) was the target of unusually large options trading activity on Thursday. Stock investors acquired 23,638 call options on the stock. This represents an increase of approximately 510% compared to the typical daily volume of 3,877 call options.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold 109,277 shares of company stock worth $37,687,884 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors have recently bought and sold shares of the business. Silicon Valley Capital Partners boosted its position in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Bogart Wealth LLC raised its position in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in The Cigna Group in the 3rd quarter worth about $26,000. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $29,000. Finally, Raleigh Capital Management Inc. grew its holdings in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.5 %

NYSE:CI traded up $1.61 during midday trading on Thursday, reaching $348.96. 251,839 shares of the stock traded hands, compared to its average volume of 1,572,467. The stock has a market capitalization of $99.13 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The business has a 50-day moving average of $350.89 and a two-hundred day moving average of $320.21.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same period last year, the business posted $5.41 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts forecast that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Mizuho upped their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Barclays started coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Wells Fargo & Company increased their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $366.14.

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.