Leerink Partnrs Forecasts The Cigna Group FY2024 Earnings

The Cigna Group (NYSE:CI) – Research analysts at Leerink Partnrs cut their FY2024 earnings estimates for shares of The Cigna Group in a note issued to investors on Monday, November 4th. Leerink Partnrs analyst W. Mayo now anticipates that the health services provider will post earnings of $28.44 per share for the year, down from their previous estimate of $28.48. The consensus estimate for The Cigna Group’s current full-year earnings is $28.48 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q4 2024 earnings at $7.74 EPS, Q1 2025 earnings at $7.32 EPS, Q3 2025 earnings at $8.34 EPS and Q4 2025 earnings at $8.44 EPS.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Price Performance

CI stock opened at $315.09 on Thursday. The stock has a market cap of $87.64 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 0.96 and a beta of 0.51. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $343.37 and a 200 day moving average price of $340.80.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the prior year, the firm posted $6.77 EPS. The business’s quarterly revenue was up 29.8% compared to the same quarter last year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.78%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On The Cigna Group

Several institutional investors have recently modified their holdings of CI. Concord Asset Management LLC VA boosted its position in The Cigna Group by 11.4% during the third quarter. Concord Asset Management LLC VA now owns 1,075 shares of the health services provider’s stock worth $372,000 after purchasing an additional 110 shares in the last quarter. Adero Partners LLC raised its holdings in shares of The Cigna Group by 4.5% in the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after acquiring an additional 34 shares during the last quarter. Seizert Capital Partners LLC lifted its position in shares of The Cigna Group by 203.0% in the third quarter. Seizert Capital Partners LLC now owns 125,529 shares of the health services provider’s stock valued at $43,488,000 after acquiring an additional 84,096 shares in the last quarter. Turtle Creek Wealth Advisors LLC boosted its stake in shares of The Cigna Group by 3.5% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 15,261 shares of the health services provider’s stock valued at $5,287,000 after acquiring an additional 510 shares during the last quarter. Finally, KPP Advisory Services LLC boosted its stake in shares of The Cigna Group by 8.6% during the third quarter. KPP Advisory Services LLC now owns 1,277 shares of the health services provider’s stock valued at $442,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.