The Cigna Group (NYSE:CI) Announces Quarterly Earnings Results, Beats Estimates By $0.25 EPS

The Cigna Group (NYSE:CIGet Free Report) announced its quarterly earnings data on Friday. The health services provider reported $6.79 earnings per share for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25, MarketWatch Earnings reports. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.96 EPS.

The Cigna Group Price Performance

CI stock opened at $323.84 on Monday. The business has a 50 day moving average price of $295.47 and a 200 day moving average price of $292.51. The stock has a market cap of $94.76 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.02 and a beta of 0.51. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $328.37. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be paid a dividend of $1.40 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date is Tuesday, March 5th. This represents a $5.60 annualized dividend and a yield of 1.73%. The Cigna Group’s payout ratio is presently 28.29%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CI shares. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research note on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $355.00 to $370.00 in a research note on Thursday. Cantor Fitzgerald raised The Cigna Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $334.00 to $372.00 in a research report on Monday. Finally, Jefferies Financial Group raised The Cigna Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $335.00 to $341.00 in a research report on Monday, December 11th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $346.81.

View Our Latest Stock Report on The Cigna Group

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP lifted its position in shares of The Cigna Group by 7.0% in the third quarter. Gladius Capital Management LP now owns 4,014 shares of the health services provider’s stock valued at $1,148,000 after acquiring an additional 264 shares in the last quarter. SkyView Investment Advisors LLC purchased a new stake in shares of The Cigna Group in the first quarter valued at $167,000. ICA Group Wealth Management LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $107,000. Covington Capital Management lifted its position in shares of The Cigna Group by 30.1% in the third quarter. Covington Capital Management now owns 346 shares of the health services provider’s stock valued at $96,000 after acquiring an additional 80 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new stake in shares of The Cigna Group in the first quarter valued at $92,000. Institutional investors and hedge funds own 85.32% of the company’s stock.

About The Cigna Group

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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.

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Earnings History for The Cigna Group (NYSE:CI)

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