Cigna Group $CI Stock Holdings Lessened by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in shares of Cigna Group (NYSE:CI) by 40.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 42,612 shares of the health services provider’s stock after selling 29,291 shares during the quarter. QRG Capital Management Inc.’s holdings in Cigna Group were worth $12,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Valeo Financial Advisors LLC lifted its holdings in shares of Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after buying an additional 3,471,249 shares during the last quarter. Norges Bank acquired a new position in Cigna Group during the 2nd quarter valued at $1,110,426,000. Arrowstreet Capital Limited Partnership boosted its holdings in Cigna Group by 24.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,508,740 shares of the health services provider’s stock valued at $829,339,000 after purchasing an additional 492,045 shares during the period. Balyasny Asset Management L.P. grew its position in Cigna Group by 1,057.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 404,753 shares of the health services provider’s stock worth $133,803,000 after purchasing an additional 369,775 shares during the last quarter. Finally, Man Group plc grew its position in Cigna Group by 215.5% in the 2nd quarter. Man Group plc now owns 532,183 shares of the health services provider’s stock worth $175,929,000 after purchasing an additional 363,510 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David Cordani acquired 4,134 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the purchase, the chief executive officer directly owned 157,935 shares in the company, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CI shares. Jefferies Financial Group reiterated a “buy” rating and issued a $310.00 target price on shares of Cigna Group in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cigna Group in a report on Monday, December 29th. JPMorgan Chase & Co. decreased their price objective on Cigna Group from $428.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. Morgan Stanley restated an “overweight” rating and issued a $355.00 target price on shares of Cigna Group in a research note on Friday, October 31st. Finally, Cowen set a $333.00 price target on shares of Cigna Group in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $330.48.

Cigna Group Stock Down 2.0%

Shares of CI opened at $272.29 on Friday. The company has a market capitalization of $72.74 billion, a P/E ratio of 12.01, a PEG ratio of 0.96 and a beta of 0.26. Cigna Group has a one year low of $239.51 and a one year high of $350.00. The business’s 50 day simple moving average is $273.63 and its 200-day simple moving average is $287.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The firm had revenue of $69.57 billion during the quarter, compared to the consensus estimate of $66.40 billion. During the same quarter in the previous year, the company posted $7.51 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, December 4th. Cigna Group’s payout ratio is 26.64%.

Cigna Group 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.