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

The Cigna Group (NYSE:CI) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of at least $28.40 for the period, compared to the consensus EPS estimate of $28.50. The Cigna Group also updated its FY 2024 guidance to 28.400- EPS.

The Cigna Group Stock Down 1.6 %

Shares of CI opened at $326.58 on Thursday. The firm has a market cap of $90.84 billion, a P/E ratio of 31.30, a PEG ratio of 1.02 and a beta of 0.51. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock’s 50 day moving average is $340.14 and its two-hundred day moving average is $340.02. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $6.77 EPS. Analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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 paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CI shares. JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler restated an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada dropped their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $394.64.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.