Cigna Group (NYSE:CI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Cigna Group (NYSE:CI - Free Report) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,751 shares of the health services provider's stock after selling 1,157 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Cigna Group worth $104,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. TCTC Holdings LLC purchased a new position in shares of Cigna Group in the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in shares of Cigna Group in the 4th quarter valued at $36,000. Transce3nd LLC purchased a new position in Cigna Group in the 4th quarter worth $38,000. Ameriflex Group Inc. purchased a new position in Cigna Group in the 4th quarter worth $44,000. Finally, Heck Capital Advisors LLC acquired a new stake in Cigna Group during the 4th quarter worth about $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CI shares. TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Piper Sandler increased their price target on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Cantor Fitzgerald raised their price target on shares of Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Wall Street Zen raised shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Morgan Stanley increased their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Trading Down 0.3%

CI stock opened at $319.48 on Friday. Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm has a market cap of $85.34 billion, a P/E ratio of 17.69, a PEG ratio of 0.95 and a beta of 0.44. The company's 50-day simple moving average is $319.74 and its 200-day simple moving average is $309.38.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. Cigna Group's revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.47 earnings per share. As a group, equities analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.

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.

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