Q3 2024 EPS Estimates for The Cigna Group Raised by Zacks Research (NYSE:CI)

The Cigna Group (NYSE:CI) – Stock analysts at Zacks Research upped their Q3 2024 EPS estimates for shares of The Cigna Group in a research note issued on Friday, May 24th. Zacks Research analyst K. Dey now expects that the health services provider will earn $7.79 per share for the quarter, up from their previous forecast of $7.68. The consensus estimate for The Cigna Group’s current full-year earnings is $28.46 per share. Zacks Research also issued estimates for The Cigna Group’s FY2024 earnings at $28.42 EPS, Q1 2025 earnings at $6.87 EPS, Q2 2025 earnings at $8.03 EPS, FY2025 earnings at $31.84 EPS, Q1 2026 earnings at $8.05 EPS and FY2026 earnings at $35.15 EPS.

Several other equities analysts have also issued reports on CI. Wells Fargo & Company upped their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. 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 report on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Cantor Fitzgerald boosted their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Barclays assumed coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Two 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 has a consensus rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Stock Down 1.5 %

NYSE:CI opened at $332.61 on Monday. The company has a market cap of $94.48 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 1.01 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s fifty day moving average price is $350.99 and its two-hundred day moving average price is $323.54. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

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

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is presently 45.98%.

Insiders Place Their Bets

In other news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,366 shares of company stock worth $25,440,835. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of The Cigna Group during the 4th quarter worth about $1,006,348,000. Parnassus Investments LLC bought a new position in The Cigna Group during the third quarter worth about $731,041,000. Vanguard Group Inc. grew its holdings in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after purchasing an additional 2,017,333 shares during the period. FMR LLC increased its position in The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after buying an additional 1,939,554 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after buying an additional 867,180 shares during the period. 86.99% of the stock is owned by institutional investors.

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.