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

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

The Cigna Group Price Performance

Shares of CI opened at $356.14 on Friday. The company has a 50 day moving average of $347.02 and a two-hundred day moving average of $345.05. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a market cap of $101.17 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter last year, the firm earned $6.13 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on CI. Piper Sandler initiated coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an overweight rating and a $400.00 price objective for the company. Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an overweight rating in a report on Friday, August 2nd. Robert W. Baird assumed coverage on The Cigna Group in a report on Thursday, May 30th. They set an outperform rating and a $388.00 target price for the company. Baird R W upgraded The Cigna Group to a strong-buy rating in a research report on Thursday, May 30th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $400.00 price target on shares of The Cigna Group in a research report on Monday, September 16th. One research 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $392.79.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of the company’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 of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. 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.