Mirae Asset Global Investments Co. Ltd. Increases Position in The Cigna Group (NYSE:CI)

Mirae Asset Global Investments Co. Ltd. increased its holdings in The Cigna Group (NYSE:CI) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,058 shares of the health services provider’s stock after acquiring an additional 3,464 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in The Cigna Group were worth $12,190,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CI. Cedar Wealth Management LLC acquired a new position in shares of The Cigna Group in the 1st quarter valued at approximately $29,000. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the second quarter worth $33,000. Ulland Investment Advisors LLC raised its holdings in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group during the 2nd quarter valued at $66,000. Finally, Private Ocean LLC grew its holdings in The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

NYSE CI opened at $316.85 on Monday. The company has a 50-day moving average price of $348.97 and a two-hundred day moving average price of $342.73. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The stock has a market cap of $90.01 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $6.13 EPS. Analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CI shares. JPMorgan Chase & Co. increased their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $392.79.

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.