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

The Cigna Group (NYSE:CI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 28.400- for the period, compared to the consensus estimate of 28.510. The company issued revenue guidance of -.

The Cigna Group Stock Performance

CI opened at $356.14 on Friday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The firm has a market capitalization of $101.17 billion, a PE ratio of 29.24, a PEG ratio of 1.09 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $347.02 and its 200 day moving average price is $345.05.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.13 EPS. As a group, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays lifted their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an overweight rating in a report on Wednesday, August 21st. Baird R W upgraded shares of The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a buy rating in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $400.00 target price on shares of The Cigna Group in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group currently has an average rating of Buy and a consensus price target of $392.79.

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company 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.