Lynch Asset Management Inc. Has $2.73 Million Stock Position in The Cigna Group (NYSE:CI)

Lynch Asset Management Inc. lifted its position in shares of The Cigna Group (NYSE:CI) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,900 shares of the health services provider’s stock after buying an additional 250 shares during the quarter. The Cigna Group comprises 1.1% of Lynch Asset Management Inc.’s holdings, making the stock its 26th biggest position. Lynch Asset Management Inc.’s holdings in The Cigna Group were worth $2,734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares during the period. Swedbank AB boosted its position in The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares during the period. FMR LLC grew its stake in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Raymond James & Associates lifted its stake in shares of The Cigna Group by 42.8% in the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after acquiring an additional 257,711 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after buying an additional 202,161 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 3.9 %

Shares of CI stock opened at $293.99 on Monday. The stock has a market capitalization of $81.77 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 0.82 and a beta of 0.54. The company’s fifty day simple moving average is $294.40 and its two-hundred day simple moving average is $324.33. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same period in the prior year, the business earned $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CI. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday. Truist Financial cut their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald cut their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday. Barclays decreased their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $380.27.

About The Cigna Group

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.