Principle Wealth Partners LLC Reduces Holdings in The Cigna Group (NYSE:CI)

Principle Wealth Partners LLC decreased its position in shares of The Cigna Group (NYSE:CI) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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 filing with the SEC.

Several other hedge funds also recently made changes to their positions in CI. Bogart Wealth LLC grew its holdings in shares of The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of The Cigna Group during the third quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC grew its holdings in shares of The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. grew its holdings in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock traded down $0.04 during midday trading on Friday, reaching $354.47. 830,527 shares of the company traded hands, compared to its average volume of 1,260,787. The firm’s 50 day simple moving average is $349.88 and its two-hundred day simple moving average is $317.98. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $103.63 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56.

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

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is currently 32.20%.

Wall Street Analyst Weigh In

CI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. Morgan Stanley reissued an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Oppenheimer reissued an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Finally, Wells Fargo & Company raised their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $362.14.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the transaction, the insider now directly owns 44,649 shares in the company, valued at approximately $15,180,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is owned by corporate insiders.

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.