Principal Financial Group Inc. Raises Stock Position in The Cigna Group (NYSE:CI)

Principal Financial Group Inc. boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 3.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 323,911 shares of the health services provider's stock after buying an additional 11,228 shares during the period. Principal Financial Group Inc. owned 0.12% of The Cigna Group worth $112,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CI. Ulland Investment Advisors LLC boosted its stake in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock worth $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the third quarter worth $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the third quarter valued at $45,000. Private Ocean LLC lifted its stake in The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock worth $66,000 after purchasing an additional 46 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new position in shares of The Cigna Group during the 3rd quarter valued at about $69,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CI has been the topic of a number of research reports. 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. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. StockNews.com downgraded shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $394.64.

The Cigna Group Stock Up 0.8 %

CI traded up $2.12 on Friday, hitting $276.92. The company had a trading volume of 3,475,514 shares, compared to its average volume of 1,634,074. The stock has a market capitalization of $77.03 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 0.88 and a beta of 0.50. 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 fifty day moving average price of $319.28 and a 200-day moving average price of $334.57. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group's revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.77 EPS. Analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 2.02%. The Cigna Group's dividend payout ratio (DPR) is 52.83%.

The Cigna Group 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.