Cigna Co. (NYSE:CI) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in Cigna Co. (NYSE:CIGet Rating) by 25.6% during the first quarter, HoldingsChannel.com reports. The fund owned 78,368 shares of the health services provider’s stock after acquiring an additional 15,984 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cigna were worth $18,777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Cigna by 1.1% during the fourth quarter. State Street Corp now owns 14,982,346 shares of the health services provider’s stock worth $3,440,396,000 after buying an additional 162,686 shares during the last quarter. Sanders Capital LLC boosted its stake in Cigna by 0.3% during the first quarter. Sanders Capital LLC now owns 7,479,977 shares of the health services provider’s stock worth $1,963,220,000 after buying an additional 21,880 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cigna by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 5,428,675 shares of the health services provider’s stock worth $1,242,969,000 after buying an additional 41,696 shares during the last quarter. Norges Bank acquired a new position in Cigna during the fourth quarter worth $747,950,000. Finally, Invesco Ltd. boosted its stake in Cigna by 25.1% during the first quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider’s stock worth $764,682,000 after buying an additional 639,645 shares during the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CI. Barclays boosted their price objective on Cigna from $275.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, May 23rd. The Goldman Sachs Group upped their price target on Cigna from $273.00 to $311.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. SVB Leerink upped their price target on Cigna from $276.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, August 10th. Bank of America raised Cigna from an “underperform” rating to a “neutral” rating and upped their price target for the company from $265.00 to $300.00 in a research note on Thursday, May 26th. Finally, UBS Group upped their price target on Cigna from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.58.

Cigna Price Performance

Shares of NYSE CI opened at $290.35 on Friday. The stock’s 50-day moving average is $282.42 and its two-hundred day moving average is $263.74. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.72. Cigna Co. has a 1-year low of $191.74 and a 1-year high of $296.29. The company has a market cap 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.

Cigna (NYSE:CIGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.60. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The company had revenue of $45.48 billion for the quarter, compared to the consensus estimate of $44.34 billion. During the same quarter in the prior year, the business earned $5.24 EPS. Cigna’s revenue was up 5.4% on a year-over-year basis. Analysts forecast that Cigna Co. will post 22.9 EPS for the current fiscal year.

Cigna Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.54%. Cigna’s payout ratio is currently 26.71%.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $286.89, for a total value of $2,020,853.16. Following the transaction, the senior vice president now owns 8,498 shares in the company, valued at approximately $2,437,991.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $286.89, for a total value of $2,020,853.16. Following the completion of the sale, the senior vice president now directly owns 8,498 shares of the company’s stock, valued at approximately $2,437,991.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael W. Triplett sold 8,260 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $292.76, for a total value of $2,418,197.60. Following the completion of the sale, the insider now directly owns 25,091 shares of the company’s stock, valued at $7,345,641.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,158 shares of company stock worth $11,581,956. 0.80% of the stock is currently owned by insiders.

Cigna 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

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Co. (NYSE:CIGet Rating).

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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