Kahn Brothers Group Inc. Sells 57 Shares of The Cigna Group (NYSE:CI)

Kahn Brothers Group Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 6.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 884 shares of the health services provider’s stock after selling 57 shares during the quarter. Kahn Brothers Group Inc.’s holdings in The Cigna Group were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CI. Norges Bank acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in The Cigna Group in the fourth quarter worth about $724,517,000. Raymond James Financial Inc. bought a new stake in The Cigna Group during the 4th quarter worth about $313,911,000. GQG Partners LLC lifted its position in The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of The Cigna Group by 4.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock valued at $3,191,151,000 after purchasing an additional 501,320 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $333.79 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market capitalization of $89.17 billion, a P/E ratio of 27.27, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a 50 day moving average of $325.84 and a 200-day moving average of $310.07.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the firm earned $6.47 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.81%. The Cigna Group’s payout ratio is presently 33.44%.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction 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 owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, 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. Over the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CI shares. Guggenheim reissued a “buy” rating and set a $388.00 price target (up from $384.00) on shares of The Cigna Group in a research note on Monday, May 5th. Wells Fargo & Company reduced their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Barclays upped their price objective on The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a report on Monday, May 5th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Finally, UBS Group lowered their price target on 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 equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $378.22.

About The Cigna Group

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.