Principal Financial Group Inc. Trims Position in Cigna Group $CI

Principal Financial Group Inc. trimmed its holdings in shares of Cigna Group (NYSE:CI) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 290,938 shares of the health services provider’s stock after selling 3,501 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Cigna Group worth $83,863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in Cigna Group by 119.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 49 shares during the period. Solstein Capital LLC acquired a new position in shares of Cigna Group in the 2nd quarter valued at about $29,000. Chilton Capital Management LLC purchased a new stake in shares of Cigna Group in the second quarter worth about $30,000. Princeton Global Asset Management LLC grew its holdings in Cigna Group by 115.6% during the second quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after acquiring an additional 52 shares during the period. Finally, Quaker Wealth Management LLC raised its position in Cigna Group by 201.0% during the second quarter. Quaker Wealth Management LLC now owns 106 shares of the health services provider’s stock valued at $35,000 after acquiring an additional 211 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Performance

CI opened at $271.13 on Tuesday. The firm’s fifty day simple moving average is $274.55 and its two-hundred day simple moving average is $284.19. Cigna Group has a 52-week low of $239.51 and a 52-week high of $350.00. The company has a market cap of $72.43 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.97 and a beta of 0.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Wall Street Analyst Weigh In

Several research firms have commented on CI. Truist Financial upped their price objective on Cigna Group from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. TD Cowen set a $333.00 price target on shares of Cigna Group in a report on Monday, December 15th. Zacks Research raised shares of Cigna Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Cigna Group from $415.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, UBS Group set a $294.00 target price on Cigna Group in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Cigna Group has an average rating of “Moderate Buy” and a consensus price target of $323.84.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.