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 $28.42. The company issued revenue guidance of at least $235 billion, compared to the consensus revenue estimate of $235.04 billion.

The Cigna Group Price Performance

Shares of NYSE:CI traded down $3.00 during midday trading on Friday, hitting $341.50. The company had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.05 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.67. The business’s 50-day simple moving average is $350.77 and its 200-day simple moving average is $319.59.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same quarter in the prior year, the firm posted $5.41 earnings per share. The Cigna Group’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts predict that The Cigna Group will post 28.45 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared 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 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CI. Mizuho upped their price target on The Cigna Group from $360.00 to $370.00 and gave the stock a buy rating in a research note on Monday, February 5th. Oppenheimer raised their target price on The Cigna Group from $370.00 to $400.00 and gave the company an outperform rating in a report on Friday. Morgan Stanley reiterated an overweight rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Wells Fargo & Company raised their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. Finally, Barclays began coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an overweight rating and a $393.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Buy and an average target price of $366.14.

Insider Activity

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Company 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.