Lincoln Capital Corp Invests $380,000 in The Cigna Group (NYSE:CI)

Lincoln Capital Corp bought a new position in The Cigna Group (NYSE:CI) during the fourth quarter, HoldingsChannel reports. The fund bought 1,377 shares of the health services provider’s stock, valued at approximately $380,000.

Other institutional investors have also recently made changes to their positions in the company. Sterling Financial Group Inc. purchased a new stake in The Cigna Group in the 4th quarter worth $4,367,000. Marks Group Wealth Management Inc boosted its stake in The Cigna Group by 3,669.7% during 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 during the last quarter. Principal Financial Group Inc. increased its stake in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Trinity Street Asset Management LLP raised its holdings in shares of The Cigna Group by 7.1% during the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after acquiring an additional 5,397 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its position in shares of The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after acquiring an additional 3,466 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 2.1 %

NYSE:CI opened at $294.98 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $82.05 billion, a P/E ratio of 27.83, a P/E/G ratio of 0.78 and a beta of 0.54. The company’s 50-day simple moving average is $298.30 and its 200-day simple moving average is $326.03. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the firm posted $6.77 earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CI has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada reduced their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $395.93.

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.