QRG Capital Management Inc. Has $17.85 Million Stock Position in The Cigna Group (NYSE:CI)

QRG Capital Management Inc. lessened its holdings in The Cigna Group (NYSE:CI) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,653 shares of the health services provider’s stock after selling 9,041 shares during the period. QRG Capital Management Inc.’s holdings in The Cigna Group were worth $17,853,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CI. AMF Tjanstepension AB grew its position in The Cigna Group by 18.6% in the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares in the last quarter. Swedbank AB grew its position in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after acquiring an additional 119,681 shares during the period. Mutual Advisors LLC grew its position in shares of The Cigna Group by 21.1% during the 3rd quarter. Mutual Advisors LLC now owns 4,729 shares of the health services provider’s stock valued at $1,505,000 after acquiring an additional 825 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of The Cigna Group by 7.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,557 shares of the health services provider’s stock valued at $2,272,000 after acquiring an additional 463 shares during the period. Finally, SteelPeak Wealth LLC bought a new position in shares of The Cigna Group during the 3rd quarter valued at approximately $214,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group cut their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Stephens cut their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Oppenheimer lowered their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Finally, Barclays lowered their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $303.39 on Friday. The stock has a market cap of $84.39 billion, a PE ratio of 24.79, a PEG ratio of 0.98 and a beta of 0.54. The company’s fifty day moving average is $288.90 and its 200 day moving average is $318.87. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the business posted $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.99%. The Cigna Group’s payout ratio is presently 49.35%.

The Cigna Group 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.