The Cigna Group (NYSE:CI) Issues FY24 Earnings Guidance

The Cigna Group (NYSE:CI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of at least $28.40 for the period, compared to the consensus estimate of $28.42. The company issued revenue guidance of at least $235 billion, compared to the consensus revenue estimate of $235.04 billion.

The Cigna Group Price Performance

Shares of NYSE:CI traded down $3.00 during midday trading on Friday, reaching $341.50. 2,413,548 shares of the company’s stock were exchanged, compared to its average volume of 1,380,653. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 0.71. The company’s 50 day simple moving average is $350.77 and its two-hundred day simple moving average is $319.59. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The firm has a market capitalization of $99.84 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.05 and a beta of 0.57.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.41 EPS. Equities research analysts expect that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Wall Street Analyst Weigh In

CI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a hold rating to a buy rating and boosted their target price for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Mizuho increased their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a buy rating in a research report on Monday, February 5th. StockNews.com upgraded The Cigna Group from a buy rating to a strong-buy rating in a research report on Thursday, March 14th. Cantor Fitzgerald raised their price target on The Cigna Group from $384.00 to $400.00 and gave the company an overweight rating in a report on Friday. Finally, Morgan Stanley reissued an overweight rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $366.14.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 over the last ninety days. 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.