The Cigna Group FY2024 EPS Estimate Cut by Leerink Partnrs

The Cigna Group (NYSE:CI) – Equities researchers at Leerink Partnrs dropped their FY2024 earnings per share estimates for shares of The Cigna Group in a research report issued to clients and investors on Monday, November 4th. Leerink Partnrs analyst W. Mayo now anticipates that the health services provider will post earnings per share of $28.44 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.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $6.77 EPS. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year.

Several other brokerages have also recently weighed in on CI. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Barclays boosted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Price Performance

Shares of CI opened at $319.83 on Thursday. 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 Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock has a market capitalization of $88.96 billion, a P/E ratio of 30.17, a P/E/G ratio of 0.95 and a beta of 0.51. The company has a 50 day moving average of $341.73 and a 200-day moving average of $340.43.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Insiders Place Their Bets

In related 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 value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of The Cigna Group

Several hedge funds and other institutional investors have recently bought and sold shares of CI. Rehmann Capital Advisory Group acquired a new position in shares of The Cigna Group in the 1st quarter valued at approximately $268,000. Larson Financial Group LLC raised its position in The Cigna Group by 198.8% during the first quarter. Larson Financial Group LLC now owns 245 shares of the health services provider’s stock valued at $89,000 after purchasing an additional 163 shares in the last quarter. CFO4Life Group LLC acquired a new stake in The Cigna Group in the first quarter valued at about $735,000. Empirical Finance LLC boosted its stake in The Cigna Group by 3.2% in the first quarter. Empirical Finance LLC now owns 11,155 shares of the health services provider’s stock valued at $4,051,000 after buying an additional 347 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in The Cigna Group by 20.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,921 shares of the health services provider’s stock valued at $9,777,000 after acquiring an additional 4,525 shares during the last quarter. Institutional investors and hedge funds 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.