Lynch Asset Management Inc. Has $3.34 Million Holdings in The Cigna Group (NYSE:CI)

Lynch Asset Management Inc. lessened its holdings in shares of The Cigna Group (NYSE:CI) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,650 shares of the health services provider’s stock after selling 100 shares during the quarter. The Cigna Group makes up approximately 1.4% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 24th largest position. Lynch Asset Management Inc.’s holdings in The Cigna Group were worth $3,343,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group during the first quarter worth approximately $29,000. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the second quarter worth approximately $33,000. Ulland Investment Advisors LLC boosted its holdings in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of The Cigna Group in the second quarter valued at approximately $66,000. Finally, Private Ocean LLC boosted its stake in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Trading Down 0.4 %

The Cigna Group stock traded down $1.39 during trading hours on Friday, reaching $316.85. 1,390,535 shares of the company’s stock were exchanged, compared to its average volume of 1,501,591. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm’s 50 day simple moving average is $348.97 and its 200 day simple moving average is $342.83. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The firm has a market capitalization of $90.01 billion, a PE ratio of 26.01, a PEG ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the business posted $6.13 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. Research analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

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.