FY2024 Earnings Forecast for The Cigna Group Issued By Cantor Fitzgerald (NYSE:CI)

The Cigna Group (NYSE:CI) – Analysts at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of The Cigna Group in a note issued to investors on Friday, May 3rd. Cantor Fitzgerald analyst S. James now anticipates that the health services provider will earn $28.45 per share for the year, up from their previous estimate of $28.32. Cantor Fitzgerald has a “Overweight” rating and a $400.00 price target on the stock. The consensus estimate for The Cigna Group’s current full-year earnings is $28.45 per share.

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. Oppenheimer upped their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday. Barclays began coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Wells Fargo & Company lifted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Price Performance

CI stock opened at $341.50 on Monday. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market capitalization of $99.84 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.05 and a beta of 0.57. The business has a 50 day simple moving average of $350.77 and a 200-day simple moving average of $319.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the prior year, the company earned $5.41 EPS. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity

In related news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Cigna Group

Large investors have recently bought and sold shares of the stock. Silicon Valley Capital Partners grew its position in shares of The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of The Cigna Group during the third quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group in the fourth quarter valued at $29,000. Finally, VisionPoint Advisory Group LLC lifted its holdings 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 worth $30,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.