The Cigna Group (NYSE:CI) Announces Quarterly Earnings Results

The Cigna Group (NYSE:CIGet Free Report) issued its earnings results 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 firm had revenue of $51.15 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $4.96 earnings per share.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $323.84 on Monday. The firm has a fifty day moving average of $295.47 and a two-hundred day moving average of $292.51. The stock has a market capitalization 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 52 week low of $240.50 and a 52 week high of $328.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

The Cigna Group Increases Dividend

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

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $370.00 in a research note on Thursday. Cantor Fitzgerald upgraded The Cigna Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $334.00 to $372.00 in a research note on Monday. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 3rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $346.81.

Get Our Latest Stock Report on The Cigna Group

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CI. Moneta Group Investment Advisors LLC lifted its position in The Cigna Group by 154,255.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after buying an additional 11,947,096 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in The Cigna Group by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock valued at $862,423,000 after acquiring an additional 268,793 shares during the period. Norges Bank bought a new position in The Cigna Group in the 4th quarter valued at about $963,542,000. Nuveen Asset Management LLC raised its holdings in The Cigna Group by 1.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,796,350 shares of the health services provider’s stock valued at $784,656,000 after acquiring an additional 32,877 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of The Cigna Group by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,808,135 shares of the health services provider’s stock worth $433,248,000 after purchasing an additional 28,643 shares in the last quarter. 85.32% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Company Profile

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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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