FY2024 Earnings Forecast for The Cigna Group (NYSE:CI) Issued By Leerink Partnrs

The Cigna Group (NYSE:CIFree Report) – Investment analysts at Leerink Partnrs boosted their FY2024 earnings estimates for shares of The Cigna Group in a research report issued to clients and investors on Tuesday, February 6th. Leerink Partnrs analyst W. Mayo now forecasts that the health services provider will post earnings of $28.34 per share for the year, up from their previous forecast of $28.20. The consensus estimate for The Cigna Group’s current full-year earnings is $28.36 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q4 2024 earnings at $7.67 EPS, FY2025 earnings at $31.48 EPS and FY2026 earnings at $34.88 EPS.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $335.00 to $341.00 in a report on Monday, December 11th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Two investment 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $357.15.

Read Our Latest Stock Analysis on CI

The Cigna Group Stock Up 0.8 %

CI opened at $334.85 on Friday. The firm’s 50-day simple moving average is $301.06 and its 200-day simple moving average is $293.77. 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 twelve month low of $240.50 and a twelve month high of $335.83. The firm has a market cap of $97.98 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.01 and a beta of 0.51.

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

Hedge Funds Weigh In On The Cigna Group

Hedge funds have recently made changes to their positions in the business. Axiom Financial Strategies LLC bought a new position in shares of The Cigna Group in the first quarter valued at $212,000. Fairfield Bush & CO. bought a new position in shares of The Cigna Group in the first quarter valued at $40,000. Cibc World Market Inc. grew its stake in shares of The Cigna Group by 52.6% in the first quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock valued at $4,547,000 after buying an additional 6,538 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in The Cigna Group by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after purchasing an additional 566 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in The Cigna Group by 36.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after purchasing an additional 343 shares during the last quarter. 85.32% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date is Tuesday, March 5th. The Cigna Group’s dividend payout ratio is presently 28.29%.

About The Cigna Group

(Get Free Report)

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.

Featured Stories

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

Receive News & Ratings for The Cigna Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cigna Group and related companies with MarketBeat.com's FREE daily email newsletter.