The Cigna Group (CI) to Distribute Quarterly Dividend of $1.40 on December 19th

The Cigna Group (NYSE:CI) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 1.76%.

The Cigna Group has raised its dividend by an average of 397.3% per year over the last three years. The Cigna Group has a payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

CI opened at $318.24 on Friday. The firm 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 company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50-day moving average is $349.85 and its two-hundred day moving average is $343.40. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. 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 the consensus estimate of $58.30 billion. During the same quarter in the previous year, the firm earned $6.13 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent analyst reports. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $392.79.

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.