Lynch & Associates IN Trims Position in The Cigna Group (NYSE:CI)

Lynch & Associates IN cut its holdings in shares of The Cigna Group (NYSE:CI) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,345 shares of the health services provider’s stock after selling 159 shares during the quarter. Lynch & Associates IN’s holdings in The Cigna Group were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. increased its stake in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares during the last quarter. IFG Advisors LLC lifted its position in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. grew its stake in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares during the period. SPC Financial Inc. increased its position in shares of The Cigna Group by 0.7% in the second quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock worth $1,692,000 after acquiring an additional 34 shares in the last quarter. Finally, Castle Rock Wealth Management LLC raised its position in The Cigna Group by 0.5% in the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock valued at $2,263,000 after purchasing an additional 34 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CI has been the topic of several analyst reports. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Jefferies Financial Group lifted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Stock Performance

Shares of CI stock traded down $0.55 during trading hours on Friday, reaching $278.77. The stock had a trading volume of 1,499,928 shares, compared to its average volume of 1,196,419. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market capitalization of $77.54 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54. The firm has a 50-day simple moving average of $305.53 and a 200-day simple moving average of $328.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

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

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.