Principal Financial Group Inc. Has $88.34 Million Position in The Cigna Group (NYSE:CI)

Principal Financial Group Inc. reduced its position in The Cigna Group (NYSE:CI - Free Report) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 319,908 shares of the health services provider's stock after selling 4,003 shares during the period. Principal Financial Group Inc. owned 0.12% of The Cigna Group worth $88,339,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CI. Sterling Financial Group Inc. acquired a new position in The Cigna Group in the fourth quarter valued at approximately $4,367,000. Marks Group Wealth Management Inc lifted its stake in shares of The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider's stock valued at $8,319,000 after purchasing an additional 23,376 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after purchasing an additional 858 shares during the last quarter. Trinity Street Asset Management LLP grew its stake in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider's stock worth $28,204,000 after purchasing an additional 5,397 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in The Cigna Group by 28.3% in the third 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 purchasing an additional 3,466 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Up 0.1 %

Shares of The Cigna Group stock traded up $0.24 during trading hours on Friday, reaching $299.92. 2,213,736 shares of the company's stock were exchanged, compared to its average volume of 1,806,507. 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 company has a 50 day moving average of $285.99 and a two-hundred day moving average of $319.78. The stock has a market cap of $83.42 billion, a P/E ratio of 24.50, a P/E/G ratio of 0.98 and a beta of 0.54. 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 - Get Free Report) last issued its quarterly earnings results 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 net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the firm earned $6.79 EPS. On average, sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend 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 dividend yield of 2.01%. The Cigna Group's payout ratio is currently 45.75%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group lowered their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Piper Sandler reiterated an "overweight" rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Cantor Fitzgerald lowered their target price on The Cigna Group from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group currently has an average rating of "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.