Frank Rimerman Advisors LLC Sells 228 Shares of Cigna Group $CI

Frank Rimerman Advisors LLC cut its stake in shares of Cigna Group (NYSE:CI) by 7.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,668 shares of the health services provider’s stock after selling 228 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Cigna Group were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in CI. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the 1st quarter worth approximately $28,000. 1248 Management LLC acquired a new stake in shares of Cigna Group during the first quarter worth $29,000. Solstein Capital LLC bought a new stake in shares of Cigna Group in the second quarter valued at about $29,000. Activest Wealth Management boosted its position in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 72 shares during the period. Finally, Chilton Capital Management LLC acquired a new position in shares of Cigna Group in the second quarter valued at about $30,000. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Cordani purchased 4,134 shares of Cigna Group stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the transaction, the insider owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Zacks Research cut shares of Cigna Group from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Leerink Partners cut their price target on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Wall Street Zen raised Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cigna Group in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. reduced their target price on Cigna Group from $428.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.05.

Cigna Group Stock Up 0.4%

NYSE CI opened at $272.50 on Wednesday. The business has a fifty day moving average price of $288.56 and a two-hundred day moving average price of $299.97. The stock has a market capitalization of $72.79 billion, a PE ratio of 14.87, a PEG ratio of 0.88 and a beta of 0.44. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. During the same quarter in the previous year, the firm earned $7.51 EPS. Cigna Group’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group’s dividend payout ratio is 26.64%.

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.