Frank Rimerman Advisors LLC Has $683,000 Position in The Cigna Group (NYSE:CI)

Frank Rimerman Advisors LLC cut its position in The Cigna Group (NYSE:CI) by 48.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,472 shares of the health services provider’s stock after selling 2,343 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in The Cigna Group were worth $683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. Adero Partners LLC increased its holdings in The Cigna Group by 4.5% during the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after buying an additional 34 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after buying an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its holdings in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after buying an additional 36 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after buying an additional 37 shares during the last quarter. Finally, Smithfield Trust Co increased its holdings in The Cigna Group by 3.6% during the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after buying an additional 38 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the business’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 $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,375 shares of company stock worth $12,866,600. 0.60% of the stock is currently owned by insiders.

The Cigna Group Trading Up 0.4 %

Shares of The Cigna Group stock opened at $313.35 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market cap of $85.76 billion, a PE ratio of 25.60, a PEG ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a 50 day simple moving average of $296.79 and a two-hundred day simple moving average of $316.52.

The Cigna Group (NYSE:CI) last announced its earnings results 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the business earned $6.79 EPS. Analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a report on Thursday, February 6th. Stephens reduced their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Morgan Stanley reduced their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Oppenheimer reduced 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 research note on Friday, January 31st. Finally, UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group Company 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.