Cigna Group (NYSE:CI) Shares Set to Pay Quarterly Dividend of $1.56

Key Points

• Cigna will pay a quarterly dividend of $1.56 per share on December 17 to shareholders of record as of December 3, representing an annualized dividend of $6.24 and a 2.1% yield.
• The company has increased its dividend for five consecutive years, with an 18.9% payout ratio indicating strong earnings coverage; analysts expect a future payout ratio of about 18.6%.
• Cigna’s latest quarterly results exceeded expectations, with earnings of $7.78 per share and revenue of $71.56 billion, up 6.7% year over year.

Cigna Group (NYSE:CI - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Thursday, December 3rd will be paid a dividend of $1.56 per share by the health services provider on Thursday, December 17th. This represents a $6.24 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd.

Cigna Group has raised its dividend by an average of 1.7% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Cigna Group has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cigna Group to earn $33.51 per share next year, which means the company should continue to be able to cover its $6.24 annual dividend with an expected future payout ratio of 18.6%.

Cigna Group Stock Performance

Shares of CI opened at $294.76 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76. The company's fifty day moving average price is $282.97 and its 200 day moving average price is $281.33. The company has a market capitalization of $77.89 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.04 and a beta of 0.29. Cigna Group has a one year low of $239.51 and a one year high of $316.27.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 earnings per share for the quarter, topping the consensus estimate of $7.60 by $0.18. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%. The business had revenue of $71.56 billion during the quarter, compared to analysts' expectations of $70.14 billion. During the same quarter in the previous year, the firm earned $7.20 EPS. The firm's revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect that Cigna Group will post 30.49 earnings per share for the current year.

About Cigna Group

The Cigna Group NYSE: CI is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.

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