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

The Cigna Group (NYSE:CI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of at least $28.40 for the period, compared to the consensus earnings per share estimate of $28.49.

The Cigna Group Stock Performance

Shares of CI opened at $355.24 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50 day moving average is $340.15 and its 200-day moving average is $343.51. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.64. The stock has a market capitalization of $100.91 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.10 and a beta of 0.52.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $6.13 earnings per share. Equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens restated an overweight rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Cantor Fitzgerald restated an overweight rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Monday, August 19th. Baird R W raised The Cigna Group to a strong-buy rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Finally, StockNews.com raised shares of The Cigna Group from a buy rating to a strong-buy rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $384.86.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,849,635.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold a total of 9,033 shares of company stock worth $3,095,820 in the last 90 days. 0.60% 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.