Cigna Group (NYSE:CI) Stake Lessened by Principle Wealth Partners LLC

Principle Wealth Partners LLC trimmed its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 56.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,242 shares of the health services provider's stock after selling 8,190 shares during the quarter. Principle Wealth Partners LLC's holdings in Cigna Group were worth $2,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Putney Financial Group LLC acquired a new stake in Cigna Group in the fourth quarter worth about $36,000. Transce3nd LLC purchased a new stake in shares of Cigna Group during the fourth quarter worth approximately $38,000. Richardson Financial Services Inc. purchased a new stake in Cigna Group in the 1st quarter valued at $38,000. Wayfinding Financial LLC purchased a new stake in Cigna Group in the 1st quarter valued at $40,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Cigna Group during the 4th quarter worth $44,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CI. Wall Street Zen lowered Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Piper Sandler lifted their price target on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Morgan Stanley lifted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Truist Financial boosted their price target on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Cigna Group currently has a consensus rating of "Buy" and an average price target of $380.39.

Cigna Group Stock Down 1.5%

NYSE CI traded down $4.34 on Monday, hitting $292.03. 381,285 shares of the stock traded hands, compared to its average volume of 1,797,728. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average of $312.53 and a 200 day moving average of $312.33. The company has a market capitalization of $78.01 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $6.47 EPS. As a group, analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio is presently 33.44%.

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.