Principal Financial Group Inc. Reduces Stock Holdings in The Cigna Group (NYSE:CI)

Principal Financial Group Inc. decreased its position in The Cigna Group (NYSE:CI) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 319,908 shares of the health services provider’s stock after selling 4,003 shares during the period. Principal Financial Group Inc.’s holdings in The Cigna Group were worth $88,339,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Adero Partners LLC increased its stake in The Cigna Group by 4.5% in the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after acquiring an additional 34 shares during the last quarter. Waldron Private Wealth LLC increased its stake in The Cigna Group by 1.0% in the third quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock valued at $1,265,000 after acquiring an additional 35 shares during the last quarter. CreativeOne Wealth LLC increased its stake in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares during the last quarter. Smithfield Trust Co increased its stake in The Cigna Group by 3.6% in the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after acquiring an additional 38 shares during the last quarter. Finally, Griffin Asset Management Inc. increased its stake in The Cigna Group by 0.6% in the fourth quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider’s stock valued at $1,869,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock opened at $294.75 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average of $285.91 and a 200-day moving average of $320.38. The firm has a market cap of $81.98 billion, a P/E ratio of 24.08, a P/E/G ratio of 0.94 and a beta of 0.54. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the business earned $6.79 earnings per share. Sell-side analysts expect that The Cigna Group will post 29.8 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. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.05%. The Cigna Group’s dividend payout ratio (DPR) is 45.75%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CI. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com cut The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Royal Bank of Canada reduced their price objective on 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. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Oppenheimer reduced their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Moderate Buy” and a consensus target price of $373.69.

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.