The Cigna Group (NYSE:CI) Shares Acquired by Linscomb Wealth Inc.

Linscomb Wealth Inc. lifted its stake in shares of The Cigna Group (NYSE:CI) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,508 shares of the health services provider’s stock after buying an additional 170 shares during the period. Linscomb Wealth Inc.’s holdings in The Cigna Group were worth $3,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares in the last quarter. Marks Group Wealth Management Inc increased its holdings in The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares in the last quarter. Hancock Whitney Corp increased its holdings in The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares in the last quarter. ORG Partners LLC purchased a new position in The Cigna Group in the second quarter valued at $489,000. Finally, Tidal Investments LLC grew its position in shares of The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Down 1.7 %

Shares of CI traded down $5.59 during mid-day trading on Friday, hitting $318.29. The company had a trading volume of 493,827 shares, compared to its average volume of 1,540,077. The business’s 50-day simple moving average is $339.52 and its 200-day simple moving average is $339.91. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The stock has a market cap of $88.53 billion, a PE ratio of 30.36, a P/E/G ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results 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 firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 earnings per share. Sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CI. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $394.64.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group 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.