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

The Cigna Group (NYSE:CI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of at least $28.40 for the period, compared to the consensus earnings per share 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 Trading Down 1.7 %

Shares of NYSE CI traded down $6.09 during trading on Thursday, reaching $351.09. The company had a trading volume of 608,981 shares, compared to its average volume of 1,553,391. The company’s fifty day moving average price is $350.78 and its 200-day moving average price is $319.21. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The stock has a market cap of $102.64 billion, a P/E ratio of 20.53, a PEG ratio of 1.09 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same quarter in the prior year, the company earned $4.96 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts expect that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Analysts Set New Price Targets

A number of analysts recently commented on CI shares. Royal Bank of Canada raised The Cigna Group from a sector perform rating to an outperform rating and increased their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a hold rating to a buy rating and increased their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Morgan Stanley reissued an overweight rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Mizuho increased their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a buy rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group has an average rating of Buy and an average price target of $362.14.

Insider Buying and Selling

In related news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of 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 SEC, which is available through this hyperlink. In related news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of 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 SEC, which is available through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 in the last three months. Insiders own 0.60% of the company’s stock.

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.