The Cigna Group (NYSE:CI) Forecasted to Post FY2024 Earnings of $28.45 Per Share

The Cigna Group (NYSE:CI) – Equities researchers at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of The Cigna Group in a report issued on Friday, May 3rd. Cantor Fitzgerald analyst S. James now anticipates that the health services provider will post earnings of $28.45 per share for the year, up from their previous forecast of $28.32. Cantor Fitzgerald has a “Overweight” rating and a $400.00 price objective on the stock. The consensus estimate for The Cigna Group’s current full-year earnings is $28.45 per share.

A number of other research analysts have also commented on the company. Morgan Stanley restated an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Oppenheimer increased their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Finally, Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Trading Up 1.3 %

Shares of CI opened at $346.70 on Monday. The stock’s 50-day moving average price is $350.89 and its 200 day moving average price is $320.21. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The firm has a market capitalization of $98.49 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 1.04 and a beta of 0.57.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.41 EPS.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Eric P. Palmer sold 6,083 shares of The Cigna Group stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the transaction, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,277 shares of company stock valued at $37,687,884. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Silicon Valley Capital Partners boosted its stake in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares during the period. Bogart Wealth LLC raised its holdings in The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in The Cigna Group in the 3rd quarter valued at about $26,000. Fortitude Family Office LLC acquired a new position in The Cigna Group during the fourth quarter valued at approximately $29,000. Finally, VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Institutional investors own 86.99% 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.