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

The Cigna Group (NYSE:CI) was the recipient of some unusual options trading on Thursday. Traders acquired 23,638 call options on the company. This is an increase of 510% compared to the typical daily volume of 3,877 call options.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 2,073 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $336.81, for a total value of $698,207.13. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,918,606.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other The Cigna Group news, CEO David Cordani sold 2,073 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $336.81, for a total value of $698,207.13. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,918,606.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of The Cigna Group stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the sale, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,195 shares of company stock worth $24,586,775. 0.70% of the stock is owned by company insiders.

Institutional Trading of The Cigna Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Silicon Valley Capital Partners raised its position in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Bogart Wealth LLC lifted its stake in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management purchased a new stake in The Cigna Group during the third quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group during the fourth quarter valued at $29,000. Finally, Raleigh Capital Management Inc. increased its holdings in The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Wells Fargo & Company raised their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Finally, Cantor Fitzgerald upped their target price on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $366.14.

The Cigna Group Trading Up 1.0 %

Shares of NYSE:CI opened at $350.99 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $99.71 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.04 and a beta of 0.57. The business’s 50-day moving average is $351.14 and its 200 day moving average is $320.40. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71.

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

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.