Cigna Group $CI Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cigna Group (NYSE:CI) by 11.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,235 shares of the health services provider’s stock after buying an additional 4,738 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cigna Group were worth $13,039,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CI. Ballentine Partners LLC lifted its position in Cigna Group by 1.0% during the 3rd quarter. Ballentine Partners LLC now owns 9,528 shares of the health services provider’s stock worth $2,746,000 after acquiring an additional 99 shares during the period. Mystic Asset Management Inc. raised its stake in shares of Cigna Group by 1.0% in the third quarter. Mystic Asset Management Inc. now owns 10,055 shares of the health services provider’s stock worth $2,898,000 after purchasing an additional 95 shares during the last quarter. J. Safra Sarasin Holding AG lifted its holdings in shares of Cigna Group by 359.6% during the third quarter. J. Safra Sarasin Holding AG now owns 4,302 shares of the health services provider’s stock worth $1,240,000 after purchasing an additional 3,366 shares during the period. Phoenix Financial Ltd. purchased a new stake in Cigna Group in the third quarter valued at approximately $605,000. Finally, Maj Invest Holding A S increased its holdings in Cigna Group by 2.4% in the 3rd quarter. Maj Invest Holding A S now owns 422,728 shares of the health services provider’s stock worth $121,854,000 after buying an additional 10,042 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Up 0.9%

NYSE CI opened at $273.69 on Friday. The business has a fifty day moving average price of $274.57 and a 200 day moving average price of $284.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $73.11 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.96 and a beta of 0.26. Cigna Group has a one year low of $239.51 and a one year high of $350.00.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The business had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same period last year, the company posted $7.51 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Insider Buying and Selling at Cigna Group

In other news, CEO David Cordani bought 4,134 shares of Cigna Group stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the purchase, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research reports. Wolfe Research decreased their target price on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Raymond James Financial reissued a “strong-buy” rating on shares of Cigna Group in a report on Monday, November 3rd. Leerink Partners dropped their target price on Cigna Group from $300.00 to $270.00 in a report on Friday, October 31st. Wells Fargo & Company decreased their price target on Cigna Group from $354.00 to $300.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cigna Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $323.84.

Cigna Group Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.