Mirae Asset Global Investments Co. Ltd. Trims Stock Holdings in The Cigna Group (NYSE:CI)

Mirae Asset Global Investments Co. Ltd. decreased its position in The Cigna Group (NYSE:CI) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 34,745 shares of the health services provider’s stock after selling 313 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in The Cigna Group were worth $9,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after buying an additional 130,048 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after buying an additional 22,408 shares during the last quarter. Parnassus Investments LLC raised its stake in shares of The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after buying an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of The Cigna Group by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after buying an additional 44,810 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 2.1 %

CI stock opened at $287.08 on Friday. 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 Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a market cap of $79.85 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 0.97 and a beta of 0.54. The business’s 50-day moving average is $291.86 and its 200 day moving average is $323.32.

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

The Cigna Group Increases Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on CI. Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler reiterated an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday. Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $373.69.

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.