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

The Cigna Group (NYSE:CI) – Equities research analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for The Cigna Group in a research note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst W. Mayo now expects that the health services provider will post earnings of $28.45 per share for the year, up from their previous forecast of $28.34. The consensus estimate for The Cigna Group’s current full-year earnings is $28.45 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q4 2024 earnings at $7.78 EPS, Q1 2025 earnings at $6.49 EPS, Q2 2025 earnings at $7.76 EPS, Q3 2025 earnings at $8.40 EPS, Q4 2025 earnings at $8.79 EPS and FY2027 earnings at $38.73 EPS.

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

A number of other research firms also recently issued reports on CI. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock 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. Mizuho lifted 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, February 5th. Finally, Cantor Fitzgerald upped their price target on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Stock Up 0.3 %

CI opened at $342.41 on Monday. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company’s 50-day moving average price is $350.77 and its two-hundred day moving average price is $319.93. The stock has a market cap of $97.27 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.04 and a beta of 0.57. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On The Cigna Group

A number of hedge funds and other institutional investors have recently modified their holdings of CI. Silicon Valley Capital Partners raised its stake 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 valued at $25,000 after acquiring an additional 35 shares during the last quarter. Bogart Wealth LLC increased its holdings 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 period. OFI Invest Asset Management bought a new position in The Cigna Group during the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group in the 4th quarter worth approximately $29,000. Finally, Raleigh Capital Management Inc. grew its position in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,144 shares of company stock valued at $39,296,330. Company insiders own 0.70% of the company’s stock.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

About The Cigna Group

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.