The Cigna Group (NYSE:CI) Updates 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 guidance of at least $28.40 for the period, compared to the consensus earnings per share 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 Trading Down 0.9 %

CI stock traded down $3.00 during midday trading on Friday, hitting $341.50. The stock had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The firm has a market cap 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 company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.67. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company’s 50-day moving average price is $350.77 and its 200 day moving average price is $319.59.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the previous year, the company earned $5.41 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Ratings Changes

CI has been the subject of several research reports. Mizuho boosted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a buy rating in a research note on Monday, February 5th. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $384.00 to $400.00 and gave the company an overweight rating in a report on Friday. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a report on Thursday, March 14th. Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an overweight rating and a $393.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group has a consensus rating of Buy and a consensus target price of $366.14.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated 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 approximately $694,668.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

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.