Linscomb Wealth Inc. Has $3.42 Million Position in The Cigna Group (NYSE:CI)

Linscomb Wealth Inc. raised its holdings in The Cigna Group (NYSE:CI) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,338 shares of the health services provider’s stock after acquiring an additional 77 shares during the quarter. Linscomb Wealth Inc.’s holdings in The Cigna Group were worth $3,417,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CI. Capital Asset Advisory Services LLC raised its stake in shares of The Cigna Group by 2.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after acquiring an additional 29 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of The Cigna Group by 10.6% in the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after buying an additional 32 shares during the last quarter. Capital Investment Advisors LLC grew its stake in The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after buying an additional 32 shares during the last quarter. Finally, Saxony Capital Management LLC raised its holdings in The Cigna Group by 5.3% in the 2nd quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock worth $211,000 after acquiring an additional 32 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 0.1 %

Shares of CI opened at $358.11 on Wednesday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.64. The stock has a market cap of $100.11 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a 50-day moving average price of $341.89 and a two-hundred day moving average price of $343.82. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate 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 business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the previous year, the firm earned $6.13 EPS. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Activity at The Cigna Group

In other news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elder Granger sold 547 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 8,033 shares of company stock valued at $2,757,740 in the last ninety days. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several research analyst reports. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays raised their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price 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. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $387.00.

The Cigna Group Company 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.