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

The Cigna Group (NYSE:CI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 28.400- for the period, compared to the consensus EPS estimate of 28.510. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CI. Barclays raised their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Royal Bank of Canada restated an outperform rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Monday. Robert W. Baird began coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an outperform rating and a $388.00 price target for the company. Finally, Stephens reaffirmed an overweight rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $392.79.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $357.42 on Friday. 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 firm has a market capitalization of $101.53 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50. The business has a fifty day simple moving average of $346.59 and a two-hundred day simple moving average of $344.83. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the company earned $6.13 EPS. On average, equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction 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 transaction, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. Insiders own 0.60% 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.