Stock Traders Buy High Volume of Put Options on CIGNA (CI)

CIGNA Co. (NYSE:CI) was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 2,841 put options on the company. This represents an increase of 847% compared to the average daily volume of 300 put options.

In other news, Director William D. Zollars sold 212 shares of CIGNA stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $205.68, for a total transaction of $43,604.16. Following the completion of the transaction, the director now directly owns 13,500 shares in the company, valued at $2,776,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mary T. Hoeltzel sold 575 shares of CIGNA stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $197.03, for a total transaction of $113,292.25. Following the transaction, the chief accounting officer now owns 2,499 shares of the company’s stock, valued at $492,377.97. The disclosure for this sale can be found here. Insiders have sold 63,185 shares of company stock valued at $12,789,459 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CI. Chicago Equity Partners LLC bought a new stake in CIGNA in the second quarter worth about $264,000. Engineers Gate Manager LP raised its position in CIGNA by 52.4% in the second quarter. Engineers Gate Manager LP now owns 7,820 shares of the health services provider’s stock worth $1,309,000 after acquiring an additional 2,688 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in CIGNA by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,760 shares of the health services provider’s stock worth $295,000 after acquiring an additional 40 shares during the period. Riverhead Capital Management LLC raised its position in CIGNA by 159.3% in the second quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock worth $923,000 after acquiring an additional 3,386 shares during the period. Finally, South State Corp bought a new stake in CIGNA in the second quarter worth about $502,000. 87.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of CIGNA (NYSE:CI) opened at $213.39 on Friday. The company has a market cap of $52,611.30, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.45 and a beta of 0.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39. CIGNA has a 12-month low of $133.52 and a 12-month high of $213.73.

CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.36 by $0.47. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. CIGNA had a net margin of 5.74% and a return on equity of 18.85%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. equities analysts forecast that CIGNA will post 10.34 EPS for the current year.

CI has been the topic of several analyst reports. Goldman Sachs Group initiated coverage on shares of CIGNA in a report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 price target on the stock. ValuEngine upgraded shares of CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price target on the stock in a report on Friday, December 22nd. Citigroup boosted their price target on shares of CIGNA from $198.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, Morgan Stanley boosted their price target on shares of CIGNA from $195.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $205.18.

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CIGNA Company Profile

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

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