The Cigna Group (NYSE:CI) Issues FY 2024 Earnings Guidance

The Cigna Group (NYSE:CI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 28.400- for the period, compared to the consensus earnings per share estimate of 28.430. The company issued revenue guidance of $235.0 billion-, compared to the consensus revenue estimate of $235.5 billion.

Analysts Set New Price Targets

A number of equities research analysts have commented on CI shares. Oppenheimer increased their target price on The Cigna Group from $370.00 to $400.00 and gave the company an outperform rating in a report on Friday, May 3rd. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a research note on Thursday, March 14th. Royal Bank of Canada raised The Cigna Group from a sector perform rating to an outperform rating and raised their price target for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Mizuho increased their price objective on The Cigna Group from $360.00 to $370.00 and gave the stock a buy rating in a report on Monday, February 5th. Finally, Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an overweight rating and a $393.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $366.14.

The Cigna Group Trading Up 0.2 %

Shares of CI stock opened at $347.31 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $350.89 and its two-hundred day moving average is $320.21. The company has a market cap of $98.66 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the previous year, the business posted $5.41 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts predict that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the transaction, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders sold a total of 109,277 shares of company stock worth $37,687,884 over the last 90 days. 0.70% of the stock is owned by insiders.

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.