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

by · The Markets Daily

The Cigna Group (NYSE:CI – Get Free Report) 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 Stock Performance

CI stock opened at $356.14 on Friday. The firm has a market cap of $101.17 billion, a P/E ratio of 29.24, a P/E/G ratio of 1.09 and a beta of 0.50. The stock’s 50 day simple moving average is $347.02 and its 200 day simple moving average is $344.97. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same period in the previous year, the business posted $6.13 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analyst Ratings Changes

CI has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an outperform rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a buy rating in a research report on Tuesday. Robert W. Baird initiated coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an outperform rating and a $388.00 price target on the stock. Piper Sandler assumed coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an overweight rating and a $400.00 price objective for the company. Finally, Stephens reissued an overweight rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued 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 $392.79.

View Our Latest Stock Analysis on The Cigna Group

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly 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 the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the company’s 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 completion of the sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

About The Cigna Group

(Get Free Report)

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.

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