The Cigna Group (NYSE:CI) Releases FY 2024 Earnings Guidance

The Cigna Group (NYSE:CI - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 28.400- for the period, compared to the consensus earnings per share estimate of 28.430. The company issued revenue guidance of $235.0 billion-, compared to the consensus revenue estimate of $235.5 billion.

The Cigna Group Price Performance

NYSE CI traded up $3.64 during trading hours on Thursday, reaching $350.99. The company's stock had a trading volume of 1,388,760 shares, compared to its average volume of 1,585,264. The firm has a market capitalization of $99.71 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 1.04 and a beta of 0.57. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The company's 50-day moving average is $351.14 and its two-hundred day moving average is $320.40.

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 for the quarter, topping analysts' consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to analysts' expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.41 EPS. On average, equities analysts predict that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The Cigna Group's payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CI. Royal Bank of Canada upgraded The Cigna Group from a sector perform rating to an outperform rating and upped their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Morgan Stanley restated an overweight rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Oppenheimer raised their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a hold rating to a buy rating and raised their target price for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, Cantor Fitzgerald raised their target price on The Cigna Group from $384.00 to $400.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Two 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $366.14.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the business's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company's stock, valued at $110,394,985.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,277 shares of company stock worth $37,687,884. 0.70% of the stock is currently owned by insiders.

The Cigna Group Company Profile

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.