89,710 Shares in Cigna Group $CI Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Cigna Group (NYSE:CI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 89,710 shares of the health services provider’s stock, valued at approximately $24,386,000.

Other institutional investors also recently modified their holdings of the company. GQG Partners LLC bought a new position in Cigna Group in the second quarter worth $1,628,918,000. Bank of America Corp DE acquired a new stake in Cigna Group during the second quarter worth $827,692,000. Legal & General Group Plc acquired a new stake in Cigna Group during the second quarter worth $542,779,000. The Manufacturers Life Insurance Company bought a new stake in Cigna Group in the 2nd quarter valued at $241,312,000. Finally, BlackRock Inc. increased its holdings in Cigna Group by 3.7% in the 2nd quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock valued at $6,461,457,000 after buying an additional 840,098 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CI. Evercore started coverage on shares of Cigna Group in a research note on Wednesday, September 9th. They issued an “in-line” rating and a $290.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a research report on Thursday, August 27th. Wall Street Zen cut shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird set a $362.00 target price on shares of Cigna Group in a research note on Friday, July 31st. Finally, Piper Sandler reissued an “overweight” rating on shares of Cigna Group in a research report on Friday, October 23rd. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.24.

Cigna Group Stock Performance

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

Cigna Group Dividend Announcement

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

Insider Buying and Selling at Cigna Group

In other 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 value of $175,258.85. Following the sale, the insider owned 5,053 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. 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 stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the completion of the sale, the insider directly owned 25,880 shares in the company, valued at approximately $7,236,306.80. The trade was a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Cigna Group Company 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.