The Cigna Group (CI) to Release Earnings on Thursday

The Cigna Group (NYSE:CI) is set to post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect The Cigna Group to post earnings of $6.16 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The firm 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 Cigna Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. On average, analysts expect The Cigna Group to post $28 EPS for the current fiscal year and $32 EPS for the next fiscal year.

The Cigna Group Stock Performance

Shares of CI stock opened at $357.11 on Wednesday. The company has a market capitalization of $104.40 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.09 and a beta of 0.56. The business’s 50 day moving average is $350.50 and its two-hundred day moving average is $318.94. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s dividend payout ratio is currently 32.20%.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the transaction, the insider now owns 44,649 shares of the company’s stock, valued at $15,180,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $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. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CI shares. Barclays started coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Mizuho increased their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and increased their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Finally, Oppenheimer reissued an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research note on Wednesday, January 17th. 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 company’s stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $362.14.

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.