Linscomb Wealth Inc. Has $2.99 Million Position in The Cigna Group (NYSE:CI)

Linscomb Wealth Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,811 shares of the health services provider’s stock after purchasing an additional 303 shares during the quarter. Linscomb Wealth Inc.’s holdings in The Cigna Group were worth $2,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Collier Financial bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group during the fourth quarter worth $34,000. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the fourth quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter worth about $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Stephens dropped their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Raymond James restated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Price Performance

CI opened at $303.39 on Friday. The company has a fifty day simple moving average of $288.90 and a 200 day simple moving average of $318.87. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a market cap of $84.39 billion, a P/E ratio of 24.79, a P/E/G ratio of 0.98 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the business posted $6.79 EPS. On average, research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business 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 dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.99%. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.