Mirae Asset Global Investments Co. Ltd. Grows Holdings in Cigna Co. (NYSE:CI)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Cigna Co. (NYSE:CIGet Rating) by 25.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,368 shares of the health services provider’s stock after purchasing an additional 15,984 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cigna were worth $18,777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Country Trust Bank increased its stake in shares of Cigna by 116.7% during the first quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock valued at $25,000 after buying an additional 56 shares during the period. Wagner Wealth Management LLC increased its stake in shares of Cigna by 144.4% during the fourth quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock valued at $30,000 after buying an additional 78 shares during the period. Exane Derivatives increased its stake in shares of Cigna by 6,200.0% during the first quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock valued at $30,000 after buying an additional 124 shares during the period. Lloyd Advisory Services LLC. purchased a new position in shares of Cigna during the first quarter valued at $30,000. Finally, Vectors Research Management LLC purchased a new position in shares of Cigna during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 89.54% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several research reports. Barclays raised their price target on Cigna from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, May 23rd. Loop Capital assumed coverage on Cigna in a research report on Thursday, June 16th. They set a “hold” rating and a $270.00 price objective on the stock. Mizuho raised their price objective on Cigna from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, August 5th. SVB Leerink raised their price objective on Cigna from $276.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, August 10th. Finally, Wells Fargo & Company raised their price objective on Cigna from $306.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.58.

Insider Activity at Cigna

In related news, insider Jason D. Sadler sold 3,458 shares of Cigna stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $270.00, for a total transaction of $933,660.00. Following the completion of the transaction, the insider now directly owns 31,749 shares in the company, valued at $8,572,230. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Eric P. Palmer sold 6,521 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $275.00, for a total value of $1,793,275.00. Following the completion of the sale, the chief executive officer now directly owns 39,978 shares in the company, valued at $10,993,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason D. Sadler sold 3,458 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total value of $933,660.00. Following the completion of the sale, the insider now owns 31,749 shares of the company’s stock, valued at $8,572,230. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,158 shares of company stock worth $11,581,956. 0.80% of the stock is owned by corporate insiders.

Cigna Trading Up 0.1 %

Cigna stock opened at $290.35 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.67. Cigna Co. has a 52 week low of $191.74 and a 52 week high of $296.29. The company has a market capitalization of $88.59 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.14 and a beta of 0.71. The stock has a 50-day moving average price of $282.42 and a 200 day moving average price of $263.74.

Cigna (NYSE:CIGet Rating) last released its earnings results on Thursday, August 4th. The health services provider reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.60. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The firm had revenue of $45.48 billion during the quarter, compared to the consensus estimate of $44.34 billion. During the same quarter in the previous year, the company posted $5.24 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Cigna Co. will post 22.9 EPS for the current year.

Cigna Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 1.54%. The ex-dividend date is Tuesday, September 6th. Cigna’s dividend payout ratio is currently 26.71%.

Cigna Company Profile

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Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

See Also

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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