Frank Rimerman Advisors LLC Has $1.67 Million Holdings in The Cigna Group (NYSE:CI)

Frank Rimerman Advisors LLC raised its stake in shares of The Cigna Group (NYSE:CI) by 168,400.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,055 shares of the health services provider’s stock after purchasing an additional 5,052 shares during the period. Frank Rimerman Advisors LLC’s holdings in The Cigna Group were worth $1,671,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Silicon Valley Capital Partners lifted its stake in shares of The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. boosted its holdings in shares of The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $37,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Down 0.3 %

Shares of NYSE:CI opened at $356.14 on Monday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a market capitalization of $101.17 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The business has a fifty day moving average price of $347.02 and a two-hundred day moving average price of $345.09. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.13 earnings per share. Analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CI. Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird assumed coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Finally, Piper Sandler began coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $392.79.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

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.