The Cigna Group (NYSE:CI) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

The Cigna Group (NYSE:CI) issued its quarterly earnings data on Thursday. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30, Briefing.com reports. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the business posted $6.13 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. The Cigna Group updated its FY 2024 guidance to 28.400- EPS and its FY24 guidance to at least $28.40 EPS.

The Cigna Group Stock Up 1.4 %

Shares of NYSE CI traded up $4.73 during mid-day trading on Friday, reaching $337.33. The company had a trading volume of 3,193,740 shares, compared to its average volume of 1,247,865. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market cap of $95.83 billion, a P/E ratio of 27.70, a PEG ratio of 1.02 and a beta of 0.52. The firm has a 50 day simple moving average of $335.80 and a two-hundred day simple moving average of $338.73.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Elder Granger sold 1,000 shares of The Cigna Group stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,849,635.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CI shares. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. Finally, Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $379.06.

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.