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

The Cigna Group (NYSE:CI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of at least $28.40 for the period, compared to the consensus earnings per share estimate of $28.49.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $8.44 during trading hours on Thursday, hitting $321.33. 812,889 shares of the company’s stock traded hands, compared to its average volume of 1,507,850. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The stock has a market capitalization of $91.28 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.05 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The company has a fifty day simple moving average of $347.15 and a 200-day simple moving average of $341.96.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for 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 company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $6.13 earnings per share. Equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CI. Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $392.79.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was 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 in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.