The Cigna Group (NYSE:CI) Releases FY24 Earnings Guidance

The Cigna Group (NYSE:CI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $28.40 for the period, compared to the consensus EPS estimate of $28.49.

The Cigna Group Stock Up 0.7 %

NYSE:CI opened at $366.64 on Thursday. The company’s 50 day moving average is $339.73 and its two-hundred day moving average is $343.43. The company has a market cap of $104.15 billion, a PE ratio of 30.10, a P/E/G ratio of 1.10 and a beta of 0.52. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.64. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the firm earned $6.13 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. Analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.53%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

Several brokerages have commented on CI. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an overweight rating and issued a $400.00 price target on shares of The Cigna Group in a report on Monday, August 19th. Baird R W upgraded The Cigna Group to a strong-buy rating in a research note on Thursday, May 30th. Barclays upped their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Finally, Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an overweight rating and a $400.00 price target for the company. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of Buy and a consensus price target of $384.86.

Insider Buying and Selling at The Cigna Group

In other news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 9,033 shares of company stock valued at $3,095,820 over the last quarter. 0.60% of the stock is currently owned by insiders.

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.