The Cigna Group (NYSE:CI) Issues FY 2024 Earnings Guidance

The Cigna Group (NYSE:CI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 28.400- for the period, compared to the consensus earnings per share estimate of 28.430. The company issued revenue guidance of $235.0 billion-, compared to the consensus revenue estimate of $235.5 billion.

The Cigna Group Trading Up 0.2 %

The Cigna Group stock opened at $347.31 on Thursday. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $98.66 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The firm has a 50 day simple moving average of $350.89 and a 200-day simple moving average of $320.21.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.41 earnings per share. As a group, equities research analysts expect that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.61%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CI shares. Royal Bank of Canada upgraded The Cigna Group from a sector perform rating to an outperform rating and lifted their price objective for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Cantor Fitzgerald raised their price target on The Cigna Group from $384.00 to $400.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. StockNews.com upgraded The Cigna Group from a buy rating to a strong-buy rating in a research report on Thursday, March 14th. Mizuho increased 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. Finally, Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an overweight rating and a $393.00 price target on the stock. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of Buy and an average price target of $366.14.

Insiders Place Their Bets

In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now directly owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,277 shares of company stock valued at $37,687,884. Corporate insiders own 0.70% 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.