Leerink Partnrs Comments on The Cigna Group’s FY2024 Earnings (NYSE:CI)

The Cigna Group (NYSE:CI) – Research analysts at Leerink Partnrs raised their FY2024 EPS estimates for shares of The Cigna Group in a research report issued to clients and investors on Thursday, May 2nd. Leerink Partnrs analyst W. Mayo now expects that the health services provider will earn $28.45 per share for the year, up from their previous estimate of $28.34. The consensus estimate for The Cigna Group’s current full-year earnings is $28.45 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q4 2024 earnings at $7.78 EPS, Q1 2025 earnings at $6.49 EPS, Q2 2025 earnings at $7.76 EPS, Q3 2025 earnings at $8.40 EPS, Q4 2025 earnings at $8.79 EPS and FY2027 earnings at $38.73 EPS.

Several other analysts also recently weighed in on the company. 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 report on Thursday, February 1st. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company increased their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Mizuho raised their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Trading Up 1.3 %

Shares of NYSE CI opened at $346.70 on Monday. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The firm has a market cap of $98.49 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The business has a fifty day simple moving average of $350.89 and a two-hundred day simple moving average of $320.21. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.41 EPS.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently added to or reduced their stakes in the business. Silicon Valley Capital Partners grew its holdings in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares during the period. Bogart Wealth LLC grew its stake in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management purchased a new position in shares of The Cigna Group during the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $29,000. Finally, VisionPoint Advisory Group LLC boosted its holdings in The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the transaction, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,277 shares of company stock worth $37,687,884. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Announces Dividend

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 given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.