Investors Buy Large Volume of Cigna Call Options (CI)

Cigna Holding Co (NYSE:CI) saw some unusual options trading on Thursday. Stock traders bought 16,620 call options on the stock. This is an increase of 1,319% compared to the typical daily volume of 1,171 call options.

CI stock opened at $194.06 on Friday. Cigna has a fifty-two week low of $163.02 and a fifty-two week high of $226.60. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.87 and a beta of 0.73.

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Cigna (NYSE:CI) last posted its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.01. Cigna had a return on equity of 23.31% and a net margin of 6.15%. The company had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the prior year, the company earned $1.94 earnings per share. Cigna’s revenue was up 29.3% on a year-over-year basis. On average, equities analysts predict that Cigna will post 14.35 earnings per share for the current year.

Several equities research analysts recently commented on the company. Zacks Investment Research raised Cigna from a “hold” rating to a “buy” rating and set a $208.00 price objective on the stock in a research report on Friday, January 4th. ValuEngine raised Cigna from a “sell” rating to a “hold” rating in a research report on Thursday, January 3rd. Credit Suisse Group reissued a “buy” rating and issued a $250.00 target price on shares of Cigna in a report on Monday, January 7th. BMO Capital Markets increased their target price on Cigna from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, Citigroup increased their target price on Cigna from $243.00 to $249.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $229.80.

In related news, Director William D. Zollars sold 201 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $210.84, for a total transaction of $42,378.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael W. Triplett sold 2,825 shares of the stock in a transaction on Monday, November 5th. The shares were sold at an average price of $214.25, for a total value of $605,256.25. Following the sale, the insider now directly owns 23,871 shares in the company, valued at $5,114,361.75. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mascoma Wealth Management LLC raised its stake in shares of Cigna by 8.1% in the fourth quarter. Mascoma Wealth Management LLC now owns 709 shares of the health services provider’s stock worth $135,000 after buying an additional 53 shares during the period. First Command Bank raised its stake in shares of Cigna by 11.8% in the fourth quarter. First Command Bank now owns 636 shares of the health services provider’s stock worth $121,000 after buying an additional 67 shares during the period. First Command Financial Services Inc. raised its stake in shares of Cigna by 11.8% in the fourth quarter. First Command Financial Services Inc. now owns 636 shares of the health services provider’s stock worth $121,000 after buying an additional 67 shares during the period. First Financial Corp IN raised its stake in shares of Cigna by 10.1% in the fourth quarter. First Financial Corp IN now owns 786 shares of the health services provider’s stock worth $150,000 after buying an additional 72 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Cigna by 73.1% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the health services provider’s stock worth $34,000 after buying an additional 76 shares during the period. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Cigna

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.

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