Equities Analysts Offer Predictions for The Cigna Group’s Q1 2024 Earnings (NYSE:CI)

The Cigna Group (NYSE:CIFree Report) – Investment analysts at Leerink Partnrs cut their Q1 2024 EPS estimates for The Cigna Group in a report issued on Tuesday, February 6th. Leerink Partnrs analyst W. Mayo now anticipates that the health services provider will earn $6.13 per share for the quarter, down from their previous estimate of $6.62. The consensus estimate for The Cigna Group’s current full-year earnings is $28.34 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q2 2024 earnings at $7.06 EPS, Q3 2024 earnings at $7.51 EPS, Q1 2025 earnings at $6.78 EPS, Q2 2025 earnings at $7.92 EPS, Q3 2025 earnings at $8.32 EPS and Q4 2025 earnings at $8.50 EPS.

The Cigna Group (NYSE:CIGet Free Report) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.96 earnings per share.

Several other equities research analysts have also recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $327.00 to $354.00 in a report on Monday. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and increased their price target for the company from $335.00 to $341.00 in a research report on Monday, December 11th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, November 3rd. Finally, Wells Fargo & Company upped their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two 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 “Moderate Buy” and an average price target of $352.47.

View Our Latest Stock Analysis on CI

The Cigna Group Trading Up 0.9 %

Shares of CI opened at $330.55 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $333.86. The firm has a 50 day moving average price of $298.35 and a 200-day moving average price of $293.20. The firm has a market cap of $96.73 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.00 and a beta of 0.51.

Institutional Investors Weigh In On The Cigna Group

Several hedge funds have recently added to or reduced their stakes in the stock. Bogart Wealth LLC grew its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of The Cigna Group during the third quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $29,000. Fairfield Bush & CO. bought a new position in The Cigna Group in the 2nd quarter valued at approximately $28,000. Finally, VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. 85.32% of the stock is owned by institutional investors.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th will be given a $1.40 dividend. The ex-dividend date is Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The Cigna Group’s dividend payout ratio is currently 28.29%.

The Cigna Group Company Profile

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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.

Further Reading

Earnings History and Estimates for The Cigna Group (NYSE:CI)

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