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

The Cigna Group (NYSE:CI) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 1.40 per share by the health services provider on Thursday, December 19th. This represents a $5.60 annualized dividend and a yield of 1.76%.

The Cigna Group has increased its dividend payment by an average of 397.3% annually over the last three years. The Cigna Group has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect The Cigna Group to earn $31.77 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 17.6%.

The Cigna Group Stock Up 0.2 %

CI stock opened at $318.24 on Friday. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day moving average of $349.85 and a 200-day moving average of $343.40. The stock has a market capitalization of $90.40 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.13 earnings per share. As a group, analysts expect that The Cigna Group will post 28.48 EPS for the current year.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

CI has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $392.79.

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.