Q1 2024 EPS Estimates for The Cigna Group (NYSE:CI) Decreased by Analyst

The Cigna Group (NYSE:CIFree Report) – Equities research analysts at Leerink Partnrs dropped their Q1 2024 earnings per share estimates for shares of The Cigna Group in a research note issued on Tuesday, February 6th. Leerink Partnrs analyst W. Mayo now anticipates that the health services provider will post earnings of $6.13 per share for the quarter, down from their prior forecast 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 issued its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. During the same period last year, the company earned $4.96 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year.

A number of other analysts also recently weighed in on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, November 3rd. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $327.00 to $354.00 in a report on Monday. Jefferies Financial Group upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $335.00 to $341.00 in a report on Monday, December 11th. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price objective on shares of The Cigna Group in a research note on Wednesday, January 17th. Finally, Mizuho increased their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $352.47.

Read Our Latest Report on CI

The Cigna Group Trading Up 0.9 %

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

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a yield of 1.69%. The Cigna Group’s payout ratio is 28.29%.

Hedge Funds Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently modified their holdings of CI. Avantax Advisory Services Inc. boosted its stake in The Cigna Group by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,328 shares of the health services provider’s stock valued at $997,000 after acquiring an additional 340 shares during the last quarter. Ieq Capital LLC increased its holdings in The Cigna Group by 17.2% in the 4th quarter. Ieq Capital LLC now owns 8,119 shares of the health services provider’s stock worth $2,431,000 after acquiring an additional 1,191 shares during the last quarter. USA Financial Formulas lifted its holdings in The Cigna Group by 1,471.0% during the fourth quarter. USA Financial Formulas now owns 487 shares of the health services provider’s stock valued at $146,000 after purchasing an additional 456 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in The Cigna Group by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,396 shares of the health services provider’s stock worth $6,706,000 after purchasing an additional 961 shares during the period. Finally, AlphaStar Capital Management LLC increased its stake in shares of The Cigna Group by 21.9% in the fourth quarter. AlphaStar Capital Management LLC now owns 2,786 shares of the health services provider’s stock worth $834,000 after purchasing an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 85.32% of the company’s stock.

About The Cigna Group

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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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