Mirae Asset Global Investments Co. Ltd. Grows Holdings in Cigna Group $CI

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Cigna Group by 9.8% in the second quarter, owning 40,497 shares valued at approximately $13.39 million.
• Various institutional investors have also bought or sold shares of Cigna, resulting in a combined ownership of 86.99% of the company’s stock.
• Cigna Group's latest quarterly earnings beat analysts' expectations, reporting $7.20 EPS and a revenue of $67.13 billion, which is an 11% increase year-over-year.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cigna Group (NYSE:CI - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,497 shares of the health services provider's stock after purchasing an additional 3,609 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Cigna Group were worth $13,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CI. EWA LLC purchased a new position in Cigna Group during the 2nd quarter worth $206,000. Pure Financial Advisors LLC raised its position in Cigna Group by 57.6% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,767 shares of the health services provider's stock worth $584,000 after buying an additional 646 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Cigna Group by 16.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 52,688 shares of the health services provider's stock worth $17,418,000 after buying an additional 7,517 shares during the last quarter. Woodward Diversified Capital LLC purchased a new position in Cigna Group during the 2nd quarter worth $347,000. Finally, Heritage Financial Services LLC purchased a new position in Cigna Group during the 2nd quarter worth $242,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares of the company's stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

CI has been the subject of a number of analyst reports. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research report on Tuesday, September 2nd. Barclays upped their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a research report on Tuesday, August 26th. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Friday. Finally, Wells Fargo & Company cut their price target on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has a consensus rating of "Moderate Buy" and an average target price of $371.81.

Cigna Group Price Performance

Shares of NYSE CI opened at $311.24 on Friday. The stock has a market cap of $83.08 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.91 and a beta of 0.45. Cigna Group has a 52 week low of $256.89 and a 52 week high of $358.88. The company's 50-day moving average price is $292.41 and its 200 day moving average price is $309.73. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's dividend payout ratio is presently 32.97%.

About Cigna Group

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.

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