QRG Capital Management Inc. Purchases 4,159 Shares of Cigna Group (NYSE:CI)

QRG Capital Management Inc. boosted its holdings in Cigna Group (NYSE:CI - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,812 shares of the health services provider's stock after purchasing an additional 4,159 shares during the period. QRG Capital Management Inc.'s holdings in Cigna Group were worth $22,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Brighton Jones LLC lifted its position in shares of Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after buying an additional 318 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Cigna Group by 5.7% in the 4th quarter. Vontobel Holding Ltd. now owns 24,778 shares of the health services provider's stock worth $6,842,000 after acquiring an additional 1,334 shares during the last quarter. Principal Securities Inc. increased its stake in Cigna Group by 16.4% in the 4th quarter. Principal Securities Inc. now owns 9,096 shares of the health services provider's stock worth $2,512,000 after acquiring an additional 1,281 shares during the last quarter. Allworth Financial LP increased its position in shares of Cigna Group by 5.2% during the 4th quarter. Allworth Financial LP now owns 6,097 shares of the health services provider's stock valued at $1,762,000 after purchasing an additional 303 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Cigna Group during the 4th quarter valued at about $63,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Guggenheim reiterated a "buy" rating and issued a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Wall Street Zen upgraded Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Morgan Stanley lifted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Mizuho lifted their price objective on Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Truist Financial lifted their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Stock Down 0.7%

Shares of Cigna Group stock traded down $2.12 on Tuesday, reaching $312.32. The company's stock had a trading volume of 1,114,457 shares, compared to its average volume of 1,716,003. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a market capitalization of $83.43 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 0.93 and a beta of 0.44. The firm's fifty day simple moving average is $322.34 and its two-hundred day simple moving average is $308.02.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business's revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $6.47 earnings per share. Equities analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.93%. Cigna Group's payout ratio is currently 33.44%.

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.