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

The Cigna Group (NYSE:CI - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 28.400- for the period. The company issued revenue guidance of -. The Cigna Group also updated its FY 2025 guidance to 31.240- EPS.

The Cigna Group Trading Up 7.3 %

Shares of NYSE CI traded up $23.43 during mid-day trading on Monday, reaching $343.20. The company had a trading volume of 2,585,683 shares, compared to its average volume of 1,539,960. 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 has a 52 week low of $253.95 and a 52 week high of $370.83. The business's 50-day moving average is $341.73 and its 200-day moving average is $340.26. The stock has a market cap of $95.46 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion for the quarter, compared to analysts' expectations of $59.58 billion. During the same period in the prior year, the business earned $6.77 EPS. The firm's quarterly revenue was up 29.8% on a year-over-year basis. Equities analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's payout ratio is 52.83%.

Analyst Ratings Changes

Several brokerages have issued reports on CI. Piper Sandler reiterated an "overweight" rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Barclays increased their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. One 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. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $394.64.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares of the company's stock, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% 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.