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The Cigna Group - CI STOCK NEWS

Welcome to our dedicated page for The Cigna Group news (Ticker: CI), a resource for investors and traders seeking the latest updates and insights on The Cigna Group stock.

The Cigna Group (NYSE: CI) is a global health services company dedicated to improving health outcomes and providing comprehensive healthcare solutions. The company operates primarily through two platforms: Evernorth Health Services and Cigna Healthcare. Cigna offers a diverse portfolio of pharmacy, medical, behavioral, dental, and supplemental products and services.

Pharmacy Benefit Management (PBM) and Health Insurance: Cigna's PBM services experienced significant growth following its 2018 merger with Express Scripts. The company's PBM and specialty pharmacy services are primarily sold to health insurance plans and employers, with notable contracts including the Department of Defense and insurer Centene. Cigna serves 18 million U.S. medical members as of December 2023, focusing on self-funded employer arrangements.

Recent Achievements: In 2024, Cigna repurchased $3.2 billion of common stock through accelerated stock repurchase agreements, reflecting strong business growth and commitment to shareholder value. The company is also addressing chronic conditions by introducing innovative solutions like EncircleRx, which offers financial guarantees for managing the cost of GLP-1s.

Partnerships and Community Engagement: Cigna partners with various organizations to enhance community health. This includes sponsoring the NFL's Vincent Country Safe Zone Activity Day, providing essential health screenings and eye exams for students, and participating in behavioral health initiatives through Evernorth Behavioral Care Group.

Financial Performance: Cigna reported strong first-quarter 2024 results, with adjusted income from operations of $1.9 billion, reflecting growth across its Evernorth and Cigna Healthcare businesses. The company also announced pricing terms for tender offers to manage its senior notes, aiming for significant savings for both patients and health plans through biosimilar initiatives.

Future Outlook: As of 2024, Cigna aims to achieve an adjusted EPS growth target of 10%-14% and has reaffirmed its 2024 adjusted EPS guidance of at least $28.25. The company continues to innovate and expand its healthcare offerings, focusing on affordability, access, and improved clinical outcomes.

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The Board of Directors of The Cigna Group (NYSE: CI) has declared a cash dividend of $1.23 per share of its common stock. This dividend will be payable on June 22, 2023, to shareholders of record as of the close of business on June 7, 2023. This action reflects the company's commitment to returning value to its shareholders and aligns with its ongoing strategy to enhance shareholder wealth. The Cigna Group operates globally, offering various health services and maintaining a robust customer base exceeding 190 million relationships worldwide.

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Express Scripts, a part of Evernorth and The Cigna Group (NYSE: CI), launched the IndependentRx Initiative on April 20, 2023, aiming to enhance healthcare access in rural communities through partnerships with independent pharmacies. The initiative includes increased reimbursement rates for pharmacies and expanded healthcare services such as vaccinations and health screenings. Key features include establishing the industry's first Independent Pharmacy Advisory Committee to promote best practices and collaboration among pharmacies. With one in five Americans living in rural areas, this initiative addresses critical care gaps and supports the clinical roles of independent pharmacists, ultimately driving better health outcomes and reducing costs.

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The Cigna Group (NYSE:CI) announced that its CFO, Brian Evanko, will present at the BofA Securities 2023 Health Care Conference on May 10, 2023, at approximately 12:20 p.m. ET in Las Vegas, NV. A live webcast of the presentation will be available through the Investor Relations section of The Cigna Group's website. The company emphasizes its commitment to improving health outcomes, leveraging its global presence across more than 30 countries, with around 190 million customer relationships worldwide. This presentation offers an opportunity for investors to gain insights into the company’s strategies and initiatives in the health sector.

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On April 13, 2023, Express Scripts, a subsidiary of The Cigna Group (NYSE: CI), announced new initiatives aimed at enhancing affordability and transparency in pharmacy benefits management. The new Copay Assurance™ plan caps consumer out-of-pocket costs for prescription drugs, with a maximum of $5 for generics, $25 for preferred brand drugs, and $45 for preferred specialty brand drugs. Additionally, Express Scripts introduced ClearCareRx™, a transparent pricing model where clients pay exactly what Express Scripts pays for medications. The company also committed to enhanced disclosures about its business model and financial practices. These initiatives aim to improve access to medications for over 100 million Americans and drive accountability in the pharmaceutical supply chain.

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The Cigna Group (NYSE:CI) plans to release its first quarter 2023 financial results on May 5, 2023, at 6:30 a.m. ET. A conference call to discuss these results will occur at 8:30 a.m. ET. Participants can join the live call by dialing (888) 455-5036 domestically or (773) 799-3981 internationally, with a passcode of 5052023. A replay will be available later the same day from 12:30 p.m. ET until 11:59 p.m. ET on May 19, 2023. Investors can access the live webcast via The Cigna Group's Investor Relations website. The Cigna Group serves approximately 190 million customers globally, providing health solutions through its various subsidiaries.

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On March 30, 2023, HonorHealth, Cigna Healthcare, and Goodwill of Central and Northern Arizona launched the Blue Zones Project in Scottsdale, Arizona, aimed at enhancing community health and well-being. This initiative focuses on creating sustainable environments by making healthy choices more accessible. Cigna's Commercial Market President, Kim Shepard, highlighted the project's potential to improve health at the community level. The program has demonstrated success in other communities with significant reductions in obesity and smoking rates while also enhancing economic vitality. Local implementation will begin in May 2023.

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AM Best has assigned a Long-Term Issue Credit Rating of “bbb” to $700 million and $800 million senior unsecured notes issued by Cigna, with positive outlook. Cigna plans to utilize proceeds for debt repayments and general corporate purposes, facing nearly $3 billion in debt maturities in 2023. Financial leverage is reported at 40.9%, expected to stabilize post-debt issuance. Cigna's earnings before interest and taxes improved to 8.2 times in 2022, with a 13% increase in healthcare earnings. The company's liquidity remains robust with $5.5 billion from the divestiture of its Asia-Pacific operations.

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The Cigna Group, previously known as Cigna Corporation (NYSE: CI), unveils three distinct brands: Cigna Healthcare, a health benefits provider; Evernorth Health Services, offering pharmacy and care solutions; and The Cigna Group as the global health company itself. This branding evolution reflects its extensive portfolio and commitment to enhancing health across more than 30 countries. With over 70,000 employees and 190 million customer relationships, this shift marks a significant milestone in the company's 230-year history, aiming to better serve its customers and clients.

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Cigna Corporation (NYSE:CI) announced that CFO Brian Evanko will present at the 43rd Annual Cowen Health Care Conference on March 6, 2023, at 2:50 p.m. ET in Boston, MA. A live webcast of the presentation will be available on Cigna's Investor Relations website. Cigna focuses on improving health and well-being globally, providing a range of integrated health services across approximately 30 countries, with around 190 million customer relationships. The company's offerings include medical, dental, behavioral health, pharmacy, and vision services.

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FAQ

What is the current stock price of The Cigna Group (CI)?

The current stock price of The Cigna Group (CI) is $276.92 as of December 20, 2024.

What is the market cap of The Cigna Group (CI)?

The market cap of The Cigna Group (CI) is approximately 78.0B.

What services does The Cigna Group offer?

The Cigna Group offers pharmacy, medical, behavioral, dental, and supplemental products and services through its Evernorth Health Services and Cigna Healthcare platforms.

What is Cigna's primary business focus?

Cigna primarily focuses on pharmacy benefit management and health insurance services, catering to health insurance plans and employers.

What are some recent achievements of The Cigna Group?

Recent achievements include a $3.2 billion stock repurchase, the launch of EncircleRx for managing GLP-1s costs, and strong financial results in the first quarter of 2024.

Who are Cigna's key partners?

Cigna partners with organizations like the NFL's Vincent Country, Centene, and provides services for the Department of Defense.

What are Cigna's future plans?

Cigna aims for an adjusted EPS growth target of 10%-14% and continues to innovate in healthcare, focusing on affordability, access, and improved clinical outcomes.

How does Cigna support community health?

Cigna supports community health through events like Vincent Country Safe Zone Activity Day, offering health screenings, eye exams, and other health services.

What is Cigna's role in pharmacy benefit management?

Cigna's PBM services, expanded through its merger with Express Scripts, are sold to health insurance plans and employers, including the Department of Defense and Centene.

What financial initiatives has Cigna undertaken recently?

Cigna has repurchased $3.2 billion of common stock through accelerated stock repurchase agreements and announced pricing terms for tender offers to manage senior notes.

What are some of Cigna's innovative healthcare solutions?

Innovative solutions include EncircleRx for managing GLP-1s costs and Evernorth Behavioral Care Group for expanding access to quality behavioral health therapy.

How many medical members does Cigna cover in the U.S.?

As of December 2023, Cigna covers 18 million medical members in the U.S.

The Cigna Group

NYSE:CI

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77.97B
273.71M
1.59%
89.64%
1.29%
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