The Cigna Group (NYSE:CI) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. boosted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,096 shares of the health services provider's stock after buying an additional 1,281 shares during the period. Principal Securities Inc.'s holdings in The Cigna Group were worth $2,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Sterling Financial Group Inc. purchased a new stake in The Cigna Group during the fourth quarter worth $4,367,000. Marks Group Wealth Management Inc lifted its holdings 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 worth $8,319,000 after buying an additional 23,376 shares during the period. Principal Financial Group Inc. lifted its holdings in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock worth $112,216,000 after buying an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after purchasing an additional 858 shares during the last quarter. Finally, Trinity Street Asset Management LLP lifted 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 valued at $28,204,000 after purchasing an additional 5,397 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CI. Cantor Fitzgerald decreased their price objective on The Cigna Group from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Morgan Stanley decreased their price objective on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Wells Fargo & Company decreased their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Oppenheimer decreased their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Finally, Truist Financial decreased their price objective on The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of "Buy" and a consensus price target of $373.69.

The Cigna Group Stock Performance

CI traded up $0.24 during midday trading on Friday, hitting $299.92. 2,213,736 shares of the company were exchanged, compared to its average volume of 1,806,507. The company's 50 day simple moving average is $286.35 and its 200 day simple moving average is $319.60. The firm has a market capitalization of $83.42 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period last year, the company earned $6.79 EPS. As a group, sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is currently 45.75%.

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.