The Cigna Group (NYSE:CI) Announces $1.40 Quarterly Dividend

The Cigna Group (NYSE:CI) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Tuesday, June 4th will be given a dividend of 1.40 per share by the health services provider on Thursday, June 20th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%.

The Cigna Group has raised its dividend by an average of 397.3% annually over the last three years and has increased its dividend every year for the last 4 years. The Cigna Group has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect The Cigna Group to earn $31.93 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 17.5%.

The Cigna Group Price Performance

Shares of CI stock opened at $352.27 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market cap of $102.99 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.08 and a beta of 0.56. The business’s fifty day moving average is $349.31 and its 200 day moving average is $317.09. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The Cigna Group’s quarterly revenue was up 11.8% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CI has been the subject of several analyst reports. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Wells Fargo & Company increased their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Mizuho boosted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Barclays assumed coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $362.14.

Insider Activity at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was 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 directly owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction 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 owns 2,102 shares in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 over the last 90 days. 0.60% of the stock is owned by corporate insiders.

About The Cigna Group

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.