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

The Cigna Group (NYSE:CI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $28.40 for the period, compared to the consensus EPS estimate of $28.49.

The Cigna Group Stock Down 3.1 %

Shares of CI opened at $355.24 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50-day simple moving average of $340.15 and a 200-day simple moving average of $343.51. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.64. The firm has a market capitalization of $100.91 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.10 and a beta of 0.52.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business earned $6.13 earnings per share. On average, equities research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The Cigna Group’s payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They set an outperform rating and a $388.00 price objective on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Monday, August 19th. Stephens reiterated an overweight rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Baird R W raised The Cigna Group to a strong-buy rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an overweight rating in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $384.86.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, 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 document filed with the SEC, which can be accessed through this link. 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 completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold a total of 9,033 shares of company stock valued at $3,095,820 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

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.