The Cigna Group (NYSE:CI) Updates FY24 Earnings Guidance

The Cigna Group (NYSE:CI) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of at least $28.40 for the period, compared to the consensus earnings per share estimate of $28.50. The Cigna Group also updated its FY 2024 guidance to 28.400- EPS.

The Cigna Group Trading Down 0.9 %

NYSE CI opened at $340.06 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The business has a 50 day simple moving average of $341.35 and a 200 day simple moving average of $340.18. The stock has a market capitalization of $94.59 billion, a P/E ratio of 32.08, a P/E/G ratio of 1.03 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.77 earnings per share. Research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Barclays raised their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Royal Bank of Canada reduced their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $394.64.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.

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.