The Cigna Group (NYSE:CI) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in The Cigna Group (NYSE:CI - Free Report) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the 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 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $867,785,000. T. Rowe Price Investment Management Inc. purchased a new position in The Cigna Group in the 4th quarter worth approximately $724,517,000. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $313,911,000. GQG Partners LLC lifted its position in The Cigna Group by 22.4% during the fourth 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, Massachusetts Financial Services Co. MA boosted its stake in 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 buying an additional 501,320 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Activity

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last three months. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Stock Up 0.2%

CI stock traded up $0.76 during midday trading on Monday, reaching $321.70. 1,242,298 shares of the company were exchanged, compared to its average volume of 1,711,909. The stock's 50-day simple moving average is $325.00 and its 200 day simple moving average is $309.88. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company has a market cap of $85.94 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The Cigna Group's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the business earned $6.47 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CI. Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Piper Sandler lifted their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Oppenheimer dropped their target price 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. Finally, Barclays upped their price target on The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group presently has an average rating of "Buy" and an average 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.