Mirae Asset Global Investments Co. Ltd. Sells 313 Shares of The Cigna Group (NYSE:CI)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of The Cigna Group (NYSE:CI) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,745 shares of the health services provider’s stock after selling 313 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in The Cigna Group were worth $9,639,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CI. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Ulland Investment Advisors LLC grew its stake in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new position in The Cigna Group in the third quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the third quarter worth approximately $45,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group in the fourth quarter worth approximately $53,000. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CI shares. Raymond James reissued a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens dropped their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada dropped their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Morgan Stanley dropped their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

Shares of CI opened at $287.08 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a fifty day moving average price of $291.86 and a 200-day moving average price of $323.32. 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 firm has a market cap of $79.85 billion, a PE ratio of 23.45, a P/E/G ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the business posted $6.79 EPS. Equities research analysts predict that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is currently 49.35%.

The Cigna Group Company 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.