The Cigna Group (NYSE:CI) Updates 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 $28.49.

Analyst Ratings Changes

Several brokerages have recently issued reports on CI. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday. JPMorgan Chase & Co. increased their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada lowered their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average target price of $392.29.

The Cigna Group Price Performance

Shares of NYSE CI traded up $1.68 during trading on Friday, hitting $316.49. The company had a trading volume of 2,810,769 shares, compared to its average volume of 1,719,347. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The business’s 50-day moving average is $345.77 and its 200 day moving average is $341.51. The company has a market cap of $88.47 billion, a P/E ratio of 29.86, a PEG ratio of 0.95 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior 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. Equities research analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Insider Activity at The Cigna Group

In other The Cigna Group 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

About The Cigna Group

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.