Principal Financial Group Inc. Grows Stock Holdings in The Cigna Group (NYSE:CI)

Principal Financial Group Inc. increased its holdings in shares of The Cigna Group (NYSE:CI) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,911 shares of the health services provider’s stock after purchasing an additional 11,228 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of The Cigna Group worth $112,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Ulland Investment Advisors LLC raised its stake in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the third quarter valued at approximately $45,000. Private Ocean LLC boosted its position in The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in shares of The Cigna Group during the 3rd quarter worth approximately $69,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE CI opened at $276.92 on Friday. The stock has a market capitalization of $77.03 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a 50-day simple moving average of $319.28 and a 200-day simple moving average of $334.57. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the company posted $6.77 EPS. On average, equities analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.02%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CI. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada dropped their price objective 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. Finally, Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $394.64.

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.