Principle Wealth Partners LLC Cuts Position in The Cigna Group (NYSE:CI)

Principle Wealth Partners LLC lessened its position in shares of The Cigna Group (NYSE:CI) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,399 shares of the health services provider’s stock after selling 34 shares during the quarter. Principle Wealth Partners LLC’s holdings in The Cigna Group were worth $4,312,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Avestar Capital LLC increased its holdings in shares of The Cigna Group by 0.8% in the 3rd quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock valued at $1,312,000 after acquiring an additional 35 shares during the period. Eads & Heald Wealth Management increased its holdings in shares of The Cigna Group by 1.7% in the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after acquiring an additional 35 shares during the period. Relyea Zuckerberg Hanson LLC increased its holdings in shares of The Cigna Group by 3.2% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after acquiring an additional 35 shares during the period. Strategic Blueprint LLC increased its holdings in shares of The Cigna Group by 4.8% in the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock valued at $224,000 after acquiring an additional 36 shares during the period. Finally, E&G Advisors LP increased its holdings in shares of The Cigna Group by 1.8% in the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock valued at $39,296,330 in the last quarter. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Stock Performance

Shares of CI stock traded down $0.04 on Friday, hitting $354.47. The company had a trading volume of 830,527 shares, compared to its average volume of 1,260,787. The firm has a market cap of $103.63 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The company has a 50-day moving average price of $349.88 and a 200-day moving average price of $317.98. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The business had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 EPS. As a group, equities research analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Mizuho boosted their target price on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Wells Fargo & Company boosted their target price on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research note on Wednesday, January 17th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $362.14.

About The Cigna Group

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.