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

The Cigna Group (NYSE:CI) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of at least $28.40 for the period, compared to the consensus estimate of $28.50.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted 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 investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Performance

Shares of CI stock opened at $319.77 on Monday. The firm has a 50 day moving average of $341.73 and a two-hundred day moving average of $340.26. The stock has a market capitalization of $88.94 billion, a PE ratio of 30.17, a P/E/G ratio of 0.95 and a beta of 0.51. 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 52 week low of $253.95 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the business posted $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.75%. The Cigna Group’s payout ratio is 52.83%.

Insider Buying and Selling

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 shares were 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 in the company, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by 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.