Mirae Asset Global Investments Co. Ltd. Acquires 89,710 Shares of Cigna Group $CI

Mirae Asset Global Investments Co. Ltd. acquired a new position in Cigna Group (NYSE:CI) during the third quarter, HoldingsChannel reports. The fund acquired 89,710 shares of the health services provider’s stock, valued at approximately $24,386,000.

Other large investors also recently made changes to their positions in the company. Osbon Capital Management LLC acquired a new stake in shares of Cigna Group in the second quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in Cigna Group during the 2nd quarter worth about $29,000. Fiduciary Financial Advisors acquired a new position in Cigna Group during the 2nd quarter worth about $29,000. Cedar Mountain Advisors LLC lifted its position in Cigna Group by 161.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock worth $29,000 after buying an additional 68 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Cigna Group during the 2nd quarter worth about $34,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other Cigna Group news, insider Everett Neville sold 617 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the transaction, the insider directly owned 5,053 shares in the company, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 2,677 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider owned 25,880 shares in the company, valued at approximately $7,236,306.80. The trade was a 9.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CI shares. Wells Fargo & Company raised their price objective on shares of Cigna Group from $305.00 to $307.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Cigna Group in a research report on Friday, October 2nd. Piper Sandler reiterated an “overweight” rating on shares of Cigna Group in a research report on Friday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cigna Group in a research note on Thursday, August 27th. Finally, Robert W. Baird set a $362.00 price target on shares of Cigna Group in a report on Friday, July 31st. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cigna Group has a consensus rating of “Moderate Buy” and an average price target of $338.24.

Cigna Group Trading Down 1.0%

Shares of CI opened at $295.20 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. Cigna Group has a 12-month low of $239.51 and a 12-month high of $316.27. The firm has a market capitalization of $78.00 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.00 and a beta of 0.29. The stock’s fifty day simple moving average is $284.24 and its 200-day simple moving average is $281.65.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Cigna Group’s payout ratio is currently 25.82%.

Cigna Group Profile

The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.