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

The Cigna Group (NYSE:CI) – Equities research analysts at Leerink Partnrs boosted their FY2024 earnings per share (EPS) estimates for shares of The Cigna Group in a research report issued on Thursday, May 2nd. Leerink Partnrs analyst W. Mayo now forecasts that the health services provider will post earnings per share of $28.45 for the year, up from their prior estimate of $28.34. The consensus estimate for The Cigna Group’s current full-year earnings is $28.45 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q4 2024 earnings at $7.78 EPS, Q1 2025 earnings at $6.49 EPS, Q2 2025 earnings at $7.76 EPS, Q3 2025 earnings at $8.40 EPS, Q4 2025 earnings at $8.79 EPS and FY2027 earnings at $38.73 EPS.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate 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 net margin of 1.76% and a return on equity of 17.24%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business earned $5.41 EPS.

Other research analysts also recently issued reports about the company. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Mizuho raised their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Wells Fargo & Company upped their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Stock Down 0.9 %

Shares of CI stock opened at $341.50 on Monday. The firm’s fifty day moving average price is $350.77 and its two-hundred day moving average price is $319.71. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The firm has a market capitalization of $99.84 billion, a P/E ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57.

Hedge Funds Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners boosted its position in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Bogart Wealth LLC lifted its stake in The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at $29,000. Finally, VisionPoint Advisory Group LLC raised its holdings in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction that occurred 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 directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale 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 business’s 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 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. Over the last quarter, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is owned by insiders.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.