In a recent disclosure with the Securities & Exchange Commission, Lynch Asset Management Inc. announced its decision to decrease its stake in The Cigna Group (NYSE:CI) during the first quarter of this year. The firm revealed that it sold 500 shares, which accounted for a 4.0% reduction in its total holdings of the health services provider’s stock. As a result, The Cigna Group now represents 2.2% of Lynch Asset Management Inc.’s portfolio, making it their 17th largest position.
The value of Lynch Asset Management Inc.’s holdings in The Cigna Group amounted to an impressive $3,028,000 as of their most recent filing with the Securities & Exchange Commission. This demonstrates both the trust and confidence that the firm places in this particular investment.
The Cigna Group has been receiving considerable attention from research analysts as well. Cantor Fitzgerald recently initiated coverage on the company with a “neutral” rating and set a price target of $285.00 per share on its stock. Similarly, Sanford C. Bernstein reduced their price target from $367.00 to $293.00 in April this year.
JPMorgan Chase & Co., another renowned research firm, also downwardly revised their price target on shares of The Cigna Group from $370.00 to $356.00 at the end of May 2023. Moreover, Truist Financial followed suit by reducing their price target to $365.00 later that month.
Despite these mixed opinions, StockNews.com upgraded The Cigna Group’s rating from “buy” to “strong-buy,” highlighting the potential they see in the company’s growth prospects.
According to Bloomberg data, The Cigna Group currently has an average rating of “Moderate Buy” among financial experts and an average price target of $330.86 per share.
On July 3rd, NYSE CI opened at $280.60, reflecting the trading activity for the day. The health services provider boasts a quick ratio and current ratio of 0.71, indicating its ability to meet short-term obligations. Additionally, the company maintains a debt-to-equity ratio of 0.65.
Looking at its recent stock performance, The Cigna Group’s 52-week low was recorded at $240.50, while its 52-week high stood at $340.11. With a market capitalization of $83.02 billion and a price-to-earnings (PE) ratio of 12.79, it is evident that The Cigna Group holds substantial value in the financial markets.
The company’s PE ratio paired with a low price-to-earnings-growth (PEG) ratio of 1.01 suggests that investors perceive it as an attractive investment opportunity with potential for future growth.
Furthermore, The Cigna Group has a beta of 0.65, which implies that it is less volatile than the overall stock market index.
Taking into consideration the company’s 50-day moving average of $260.27 and two-hundred day moving average of $281.11 as additional indicators, it appears that The Cigna Group is continuously adapting to changes in market trends and playing a strong role in this industry.
As we move further into July 2023, investors will be closely monitoring The Cigna Group’s performance to determine if it lives up to both market expectations and analysts’ predictions regarding its future growth potential.
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Institutional Investors Increase Stake in The Cigna Group (CI), Analysts Provide Mixed Reviews
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CI” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]The Cigna Group (NYSE:CI) has recently seen an increase in stake from various institutional investors and hedge funds. Demars Financial Group LLC raised its stake by 7.3% during the first quarter, now owning 8,228 shares worth $2,102,000. Shikiar Asset Management Inc. also purchased a new position during the same period, worth about $9,228,000. DnB Asset Management AS and Foster Victor Wealth Advisors LLC also raised their stakes in The Cigna Group by 3.9% and 17.7% respectively.
Furthermore, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH saw a significant increase of 47.4% in its stake during the first quarter, now owning 36,792 shares worth $9,401,000. Currently, 85.63% of the stock is held by institutional investors and hedge funds.
On the other hand, Director Donna F. Zarcone sold 757 shares of The Cigna Group’s stock on May 1st at an average price of $253.29 per share for a total value of $191,740.53. After this transaction, Zarcone now holds 25,558 shares of the company’s stock valued at approximately $6,473,585.82.
In terms of research analyst reports on CI’s stock performance, Cantor Fitzgerald initiated coverage and issued a “neutral” rating with a price target of $285 on April 20th. Sanford C. Bernstein reduced their price target from $367 to $293 on April 26th while JPMorgan Chase & Co., Truist Financial and StockNews.com also lowered their respective price targets in subsequent research notes.
The Cigna Group last reported its earnings results on May 5th with an EPS of $5.41 for the quarter – surpassing analysts’ consensus estimates of $5.23 by $0.18. The company also reported a revenue of $46.52 billion for the quarter, higher than the consensus estimate of $45.43 billion. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. Despite these positive results, the company’s revenue was up only 5.7% compared to the same period last year when it posted an EPS of $6.01.
Looking ahead, research analysts expect The Cigna Group to post an EPS of 24.82 for the current fiscal year.
Finally, The Cigna Group announced a quarterly dividend which was paid on June 22nd to shareholders of record as of June 7th. This dividend amounted to $1.23 per share, representing an annualized dividend yield of 1.75%. The ex-dividend date for this payout was on June 6th and the company’s dividend payout ratio (DPR) stands at 22.42%.
Overall, The Cigna Group has experienced varying levels of stake adjustments from institutional investors and hedge funds, while its stock rating continues to receive mixed reviews from research analysts in terms of target prices and recommendations for investors looking to invest in CI’s stock in today’s market.
