The Cigna Group (CI) to Release Quarterly Earnings on Thursday

Posted by Defense World Staff on Oct 26th, 2023

The Cigna Group (NYSE:CI – Get Free Report) is set to announce its earnings results before the market opens on Thursday, November 2nd. Analysts expect the company to announce earnings of $6.66 per share for the quarter. The Cigna Group has set its FY 2023 guidance at $24.70- EPS and its FY23 guidance at $24.70 EPS.Investors interested in listening to the company’s conference call can do so using this link.

The Cigna Group (NYSE:CI – Get Free Report) last announced its earnings results on Thursday, August 3rd. The health services provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.98 by $0.15. The Cigna Group had a net margin of 3.57% and a return on equity of 12.32%. The business had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $47.24 billion. During the same quarter in the prior year, the firm earned $6.22 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts expect The Cigna Group to post $25 EPS for the current fiscal year and $28 EPS for the next fiscal year.

The Cigna Group Price Performance

Shares of CI opened at $303.89 on Thursday. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $340.11. The company has a market capitalization of $89.95 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.09 and a beta of 0.64. The firm has a 50-day simple moving average of $288.42 and a 200-day simple moving average of $276.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th will be paid a dividend of $1.23 per share. This represents a $4.92 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio (DPR) is 22.40%.

Insider Buying and Selling

In related news, CFO Brian C. Evanko sold 2,307 shares of The Cigna Group stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $300.00, for a total transaction of $692,100.00. Following the completion of the transaction, the chief financial officer now directly owns 31,332 shares in the company, valued at approximately $9,399,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, EVP Cynthia Ryan sold 3,768 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total value of $1,063,404.96. Following the completion of the transaction, the executive vice president now directly owns 5,503 shares in the company, valued at approximately $1,553,056.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Evanko sold 2,307 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $300.00, for a total value of $692,100.00. Following the completion of the transaction, the chief financial officer now owns 31,332 shares of the company’s stock, valued at $9,399,600. The disclosure for this sale can be found here. Insiders sold 26,144 shares of company stock worth $7,485,023 in the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

Several institutional investors have recently made changes to their positions in the stock. Axiom Financial Strategies LLC purchased a new stake in The Cigna Group during the 1st quarter worth $212,000. Fairfield Bush & CO. purchased a new stake in The Cigna Group during the 1st quarter worth $40,000. Cibc World Market Inc. boosted its position in The Cigna Group by 52.6% during the 1st quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock worth $4,547,000 after purchasing an additional 6,538 shares during the period. Vontobel Holding Ltd. lifted its holdings in The Cigna Group by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock worth $2,265,000 after buying an additional 566 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in The Cigna Group by 36.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock worth $307,000 after buying an additional 343 shares in the last quarter. 85.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CI shares. Raymond James increased their target price on shares of The Cigna Group from $310.00 to $330.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 7th. Sanford C. Bernstein lifted their price objective on The Cigna Group from $326.00 to $330.00 in a report on Tuesday, October 10th. JPMorgan Chase & Co. lowered their price objective on The Cigna Group from $356.00 to $341.00 in a report on Friday, July 7th. Cantor Fitzgerald lifted their price objective on The Cigna Group from $292.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, September 14th. Finally, Edward Jones lowered The Cigna Group from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $341.05.

Get Our Latest Stock Report on CI

The Cigna Group Company Profile

(Get Free Report)

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.