MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Holdings in The Cigna Group (NYSE:CI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in The Cigna Group (NYSE:CI) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,903 shares of the health services provider’s stock after selling 1,462 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in The Cigna Group were worth $13,504,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of The Cigna Group by 4.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after purchasing an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its holdings in The Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock worth $2,224,296,000 after buying an additional 154,420 shares in the last quarter. Geode Capital Management LLC grew its holdings in The Cigna Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after buying an additional 101,737 shares in the last quarter. GQG Partners LLC grew its holdings in The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after buying an additional 737,099 shares in the last quarter. Finally, Norges Bank bought a new position in The Cigna Group during the 4th quarter valued at $867,785,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 1.7%

Shares of CI stock opened at $308.47 on Friday. The company has a 50 day simple moving average of $324.94 and a two-hundred day simple moving average of $309.85. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $82.41 billion, a P/E ratio of 25.20, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter last year, the business posted $6.47 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

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 given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is presently 33.44%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CI. Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Morgan Stanley upped their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Robert W. Baird decreased their price target on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Cowen reiterated a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $379.33.

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.