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

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

The Cigna Group Stock Performance

Shares of NYSE CI opened at $357.42 on Friday. The stock has a market capitalization of $101.53 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The stock has a 50 day moving average price of $346.59 and a 200 day moving average price of $344.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

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

The Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Piper Sandler started coverage on The Cigna Group in a report on Wednesday, June 26th. They set an overweight rating and a $400.00 target price on the stock. Baird R W raised The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an overweight rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Monday. Finally, Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a buy rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $392.79.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’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 in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.