Leerink Partnrs Forecasts Lower Earnings for The Cigna Group

The Cigna Group (NYSE:CI) – Equities research analysts at Leerink Partnrs cut their FY2024 earnings per share (EPS) estimates for The Cigna Group in a research report issued to clients and investors on Monday, November 4th. Leerink Partnrs analyst W. Mayo now forecasts that the health services provider will post earnings per share of $28.44 for the year, down from their previous estimate of $28.48. The consensus estimate for The Cigna Group’s current full-year earnings is $28.48 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q4 2024 earnings at $7.74 EPS, Q1 2025 earnings at $7.32 EPS, Q3 2025 earnings at $8.34 EPS and Q4 2025 earnings at $8.44 EPS.

CI has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. Piper Sandler restated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Down 1.0 %

CI stock opened at $315.09 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s fifty day simple moving average is $343.37 and its 200-day simple moving average is $340.80. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a market capitalization of $87.64 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the business posted $6.77 EPS.

Institutional Trading of The Cigna Group

Several institutional investors have recently added to or reduced their stakes in CI. Checchi Capital Advisers LLC lifted its position in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares during the period. IFG Advisors LLC lifted its holdings in The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after buying an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. boosted its position in The Cigna Group by 4.7% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after buying an additional 31 shares during the period. Finally, Capital Investment Advisors LLC grew its stake in shares of The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.