Lynch Asset Management Inc. Has $3.29 Million Stake in The Cigna Group (NYSE:CI)

Lynch Asset Management Inc. grew its position in The Cigna Group (NYSE:CI) by 1.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 10,000 shares of the health services provider’s stock after purchasing an additional 100 shares during the period. The Cigna Group accounts for 1.5% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Lynch Asset Management Inc.’s holdings in The Cigna Group were worth $3,290,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of The Cigna Group in the 4th quarter worth $867,785,000. T. Rowe Price Investment Management Inc. bought a new position in The Cigna Group during the fourth quarter worth about $724,517,000. GAMMA Investing LLC lifted its holdings in The Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after acquiring an additional 1,771,613 shares in the last quarter. Raymond James Financial Inc. bought a new position in The Cigna Group during the fourth quarter worth about $313,911,000. Finally, GQG Partners LLC lifted its holdings in The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after acquiring an additional 737,099 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

The Cigna Group stock opened at $314.93 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock’s 50 day moving average is $322.23 and its 200-day moving average is $308.70. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $84.13 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $6.47 earnings per share. Equities research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s payout ratio is presently 33.44%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Cowen reiterated a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. Barclays restated an “overweight” rating and issued a $385.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, June 2nd. Mizuho boosted their price target on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Cantor Fitzgerald lifted their target price on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $380.39.

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.