The Cigna Group (NYSE:CI) Posts Earnings Results, Beats Estimates By $0.39 EPS

The Cigna Group (NYSE:CI) issued its earnings results on Friday. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39, Zacks reports. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period last year, the business posted $6.47 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year.

The Cigna Group Trading Down 0.3 %

NYSE:CI opened at $334.03 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $323.21 and its 200 day moving average is $309.90. The stock has a market capitalization of $91.42 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CI. Robert W. Baird cut their target price on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley dropped their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company decreased their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Cantor Fitzgerald boosted their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $373.56.

Insiders Place Their Bets

In other news, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Institutional Trading of The Cigna Group

A hedge fund recently raised its stake in The Cigna Group stock. Brighton Jones LLC increased its position in shares of The Cigna Group (NYSE:CI) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,736 shares of the health services provider’s stock after acquiring an additional 318 shares during the period. Brighton Jones LLC’s holdings in The Cigna Group were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission. 86.99% of the stock is owned by institutional investors and hedge funds.

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.