Principal Street Partners LLC Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Principal Street Partners LLC decreased its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 48.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,051 shares of the health services provider's stock after selling 1,000 shares during the period. Principal Street Partners LLC's holdings in The Cigna Group were worth $290,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Delta Investment Management LLC purchased a new position in The Cigna Group in the fourth quarter worth $3,312,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in The Cigna Group by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,592 shares of the health services provider's stock worth $689,133,000 after purchasing an additional 326,633 shares during the last quarter. Unio Capital LLC boosted its position in The Cigna Group by 93.0% in the fourth quarter. Unio Capital LLC now owns 95,453 shares of the health services provider's stock worth $26,358,000 after purchasing an additional 45,989 shares during the last quarter. Voloridge Investment Management LLC boosted its position in The Cigna Group by 400.9% in the fourth quarter. Voloridge Investment Management LLC now owns 643,253 shares of the health services provider's stock worth $177,628,000 after purchasing an additional 514,841 shares during the last quarter. Finally, Waverly Advisors LLC boosted its position in The Cigna Group by 102.3% in the fourth quarter. Waverly Advisors LLC now owns 11,400 shares of the health services provider's stock worth $3,148,000 after purchasing an additional 5,764 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Buying and Selling at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

CI stock traded up $3.68 during mid-day trading on Friday, reaching $316.36. 1,667,838 shares of the company traded hands, compared to its average volume of 1,714,787. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a market capitalization of $84.51 billion, a P/E ratio of 25.85, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a fifty day moving average price of $325.35 and a 200-day moving average price of $310.06.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.47 EPS. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is presently 33.44%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CI shares. Wall Street Zen raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. UBS Group lowered their target price on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Raymond James reissued a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Mizuho boosted their price objective on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald boosted their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Two 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $379.33.

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.