QRG Capital Management Inc. Buys 2,377 Shares of Cigna Group $CI

QRG Capital Management Inc. increased its position in shares of Cigna Group (NYSE:CI) by 16.5% during the first quarter, Holdings Channel reports. The institutional investor owned 16,792 shares of the health services provider’s stock after purchasing an additional 2,377 shares during the quarter. QRG Capital Management Inc.’s holdings in Cigna Group were worth $4,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oxbow Advisors LLC increased its position in shares of Cigna Group by 2.8% during the first quarter. Oxbow Advisors LLC now owns 20,858 shares of the health services provider’s stock valued at $5,564,000 after purchasing an additional 577 shares during the period. HB Wealth Management LLC lifted its position in Cigna Group by 25.4% in the first quarter. HB Wealth Management LLC now owns 19,146 shares of the health services provider’s stock worth $5,107,000 after purchasing an additional 3,880 shares during the period. Moran Wealth Management LLC boosted its stake in Cigna Group by 11.0% during the first quarter. Moran Wealth Management LLC now owns 48,375 shares of the health services provider’s stock worth $12,904,000 after buying an additional 4,808 shares in the last quarter. Plimoth Trust Co. LLC boosted its stake in Cigna Group by 7.4% during the first quarter. Plimoth Trust Co. LLC now owns 7,600 shares of the health services provider’s stock worth $2,027,000 after buying an additional 522 shares in the last quarter. Finally, BIP Wealth LLC increased its holdings in Cigna Group by 14.5% in the 1st quarter. BIP Wealth LLC now owns 1,892 shares of the health services provider’s stock valued at $505,000 after buying an additional 239 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO David Cordani sold 201,878 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the completion of the sale, the chief executive officer owned 34,337 shares of the company’s stock, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of Cigna Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the completion of the transaction, the chief accounting officer owned 2,368 shares of the company’s stock, valued at $707,108.48. This trade represents a 27.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. Robert W. Baird set a $337.00 price objective on shares of Cigna Group in a report on Friday, May 1st. Barclays cut shares of Cigna Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $310.00 to $304.00 in a research note on Tuesday, May 26th. Cantor Fitzgerald increased their price target on shares of Cigna Group from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Morgan Stanley raised their price target on shares of Cigna Group from $355.00 to $361.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Cigna Group in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.30.

Cigna Group Stock Down 0.1%

Shares of NYSE CI opened at $287.50 on Monday. Cigna Group has a 52-week low of $239.51 and a 52-week high of $323.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73. The business has a fifty day moving average of $285.09 and a two-hundred day moving average of $279.26. The stock has a market cap of $76.05 billion, a PE ratio of 12.19, a PEG ratio of 1.11 and a beta of 0.29.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.60 by $0.19. The business had revenue of $68.52 billion for the quarter, compared to analyst estimates of $66.29 billion. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.74 EPS. Cigna Group has set its FY 2026 guidance at 30.350- EPS. As a group, equities research analysts expect that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were given a $1.56 dividend. The ex-dividend date was Thursday, June 4th. This represents a $6.24 dividend on an annualized basis and a yield of 2.2%. Cigna Group’s payout ratio is 26.45%.

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.