FY2024 EPS Estimates for The Cigna Group (NYSE:CI) Boosted by Leerink Partnrs

The Cigna Group (NYSE:CI) – Analysts at Leerink Partnrs lifted their FY2024 EPS estimates for shares of The Cigna Group in a report released on Thursday, May 2nd. Leerink Partnrs analyst W. Mayo now expects 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 announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the previous year, the business earned $5.41 EPS. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis.

CI has been the subject of several other research reports. Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays assumed coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Cantor Fitzgerald raised their price target on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, Morgan Stanley restated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Stock Performance

Shares of CI opened at $346.70 on Monday. The company has a market capitalization of $98.49 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average price of $350.89 and a 200 day moving average price of $320.21.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Delta Financial Advisors LLC raised its stake in shares of The Cigna Group by 7.5% during the 1st quarter. Delta Financial Advisors LLC now owns 3,615 shares of the health services provider’s stock worth $1,313,000 after buying an additional 251 shares during the last quarter. Inspire Advisors LLC purchased a new position in The Cigna Group during the 1st quarter valued at about $234,000. Meeder Advisory Services Inc. raised its position in The Cigna Group by 4.4% during the first quarter. Meeder Advisory Services Inc. now owns 4,205 shares of the health services provider’s stock worth $1,527,000 after acquiring an additional 177 shares during the last quarter. NorthRock Partners LLC grew its position in shares of The Cigna Group by 12.5% in the first quarter. NorthRock Partners LLC now owns 2,272 shares of the health services provider’s stock valued at $825,000 after purchasing an additional 252 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of The Cigna Group by 3.9% during the 1st quarter. Sei Investments Co. now owns 371,976 shares of the health services provider’s stock worth $135,101,000 after purchasing an additional 13,809 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the sale, the insider now owns 44,649 shares in the company, valued at $15,180,660. The disclosure for this sale can be found here. Insiders have sold a total of 109,277 shares of company stock worth $37,687,884 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is 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.