The Cigna Group Expected to Earn FY2024 Earnings of $28.45 Per Share (NYSE:CI)

The Cigna Group (NYSE:CI - Free Report) - Investment analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for The Cigna Group in a research note issued on Friday, May 3rd. Cantor Fitzgerald analyst S. James now forecasts that the health services provider will post earnings per share of $28.45 for the year, up from their prior estimate of $28.32. Cantor Fitzgerald has a "Overweight" rating and a $400.00 price objective on the stock. The consensus estimate for The Cigna Group's current full-year earnings is $28.45 per share.

Other analysts have also issued research reports about the company. Barclays initiated coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an "overweight" rating and a $393.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 6th. Royal Bank of Canada upgraded shares of The Cigna Group from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Oppenheimer increased their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $366.14.

The Cigna Group Price Performance

Shares of CI stock traded up $0.91 during trading hours on Monday, hitting $342.41. The company's stock had a trading volume of 1,320,046 shares, compared to its average volume of 1,590,367. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average of $350.77 and a 200-day moving average of $319.71. The stock has a market cap of $97.27 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.04 and a beta of 0.57. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business's revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.41 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in The Cigna Group during the fourth quarter valued at about $1,006,348,000. Parnassus Investments LLC bought a new stake in The Cigna Group during the 3rd quarter valued at approximately $731,041,000. FMR LLC grew its holdings in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider's stock valued at $4,567,783,000 after buying an additional 1,939,554 shares during the last quarter. Focused Investors Fund L P acquired a new position in shares of The Cigna Group during the first quarter worth approximately $205,529,000. Finally, Cerity Partners LLC boosted its position in shares of The Cigna Group by 1,039.4% in the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider's stock valued at $176,694,000 after acquiring an additional 538,274 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the company's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company's stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 31,209 shares of the company's 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 completion of the sale, the chief executive officer now owns 348,054 shares of the company's stock, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group's dividend payout ratio is presently 45.98%.

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.