The Cigna Group (NYSE:CI) to Post Q3 2024 Earnings of $7.33 Per Share, Zacks Research Forecasts

The Cigna Group (NYSE:CI) – Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for The Cigna Group in a research report issued on Wednesday, August 21st. Zacks Research analyst K. Dey now anticipates that the health services provider will post earnings of $7.33 per share for the quarter, down from their previous forecast of $7.79. The consensus estimate for The Cigna Group’s current full-year earnings is $28.40 per share. Zacks Research also issued estimates for The Cigna Group’s Q1 2025 earnings at $6.97 EPS, Q2 2025 earnings at $7.72 EPS and Q1 2026 earnings at $7.72 EPS.

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, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the previous year, the company posted $6.13 EPS. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year.

CI has been the subject of several other reports. Robert W. Baird initiated coverage on shares of 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. JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer raised their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Trading Up 2.2 %

Shares of CI opened at $353.99 on Monday. 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 has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The firm has a 50 day moving average price of $336.09 and a 200-day moving average price of $342.17. The firm has a market cap of $100.56 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.02 and a beta of 0.52.

Hedge Funds Weigh In On The Cigna Group

Large investors have recently made changes to their positions in the business. Bryn Mawr Capital Management LLC boosted its stake in The Cigna Group by 9.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,144 shares of the health services provider’s stock worth $343,000 after purchasing an additional 100 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth $389,000. Gitterman Wealth Management LLC purchased a new position in shares of The Cigna Group in the fourth quarter worth $269,000. Choreo LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at $314,000. Finally, Naviter Wealth LLC boosted its position in shares of The Cigna Group by 25.8% during the fourth quarter. Naviter Wealth LLC now owns 3,138 shares of the health services provider’s stock valued at $940,000 after buying an additional 644 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Cigna Group

In other The Cigna Group 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 transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 9,033 shares of company stock valued at $3,095,820. Company insiders own 0.60% of the company’s stock.

The Cigna Group Announces Dividend

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

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.