Principal Street Partners LLC Has $679,000 Position in The Cigna Group (NYSE:CI)

Principal Street Partners LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 94.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,051 shares of the health services provider’s stock after acquiring an additional 995 shares during the period. Principal Street Partners LLC’s holdings in The Cigna Group were worth $679,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Waverly Advisors LLC raised its position in shares of The Cigna Group by 132.5% in the 1st quarter. Waverly Advisors LLC now owns 4,829 shares of the health services provider’s stock valued at $1,754,000 after acquiring an additional 2,752 shares during the period. Kennedy Capital Management LLC acquired a new stake in The Cigna Group in the first quarter worth $3,564,000. B. Riley Wealth Advisors Inc. boosted its position in shares of The Cigna Group by 12.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,305 shares of the health services provider’s stock worth $2,653,000 after purchasing an additional 795 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in shares of The Cigna Group by 26.0% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,700 shares of the health services provider’s stock valued at $1,344,000 after buying an additional 763 shares during the period. Finally, Tidal Investments LLC increased its position in shares of The Cigna Group by 36.0% in the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after buying an additional 4,043 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CI. Royal Bank of Canada reduced their target price 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. Jefferies Financial Group boosted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Down 0.2 %

CI stock traded down $0.55 during mid-day trading on Tuesday, reaching $332.46. The company had a trading volume of 53,806 shares, compared to its average volume of 1,540,364. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a market capitalization of $92.47 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 0.99 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a 50 day simple moving average of $334.74 and a two-hundred day simple moving average of $338.63.

The Cigna Group (NYSE:CI) last issued 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 the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.77 earnings per share. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.