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

The Cigna Group (NYSE:CI) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of at least $28.40 for the period, compared to the consensus EPS 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 Stock Down 0.9 %

Shares of NYSE:CI traded down $3.00 during trading on Friday, reaching $341.50. 2,413,548 shares of the stock were exchanged, compared to its average volume of 1,380,653. The firm has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.05 and a beta of 0.57. The stock has a fifty day moving average of $350.77 and a two-hundred day moving average of $319.59. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. 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 (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 analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.41 EPS. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CI shares. Cantor Fitzgerald raised their price objective on The Cigna Group from $384.00 to $400.00 and gave the company an overweight rating in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a hold rating to a buy rating and lifted their price objective for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. StockNews.com upgraded The Cigna Group from a buy rating to a strong-buy rating in a research note on Thursday, March 14th. Wells Fargo & Company boosted their price target on The Cigna Group from $334.00 to $348.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada raised The Cigna Group from a sector perform rating to an outperform rating and increased their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of Buy and an average target price of $366.14.

Insiders Place Their Bets

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on 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 completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 in the last ninety days. 0.60% of the stock is owned by company 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.