The Cigna Group - CI STOCK NEWS

Cigna Corporation (NYSE: CI) has completed a $5.4 billion divestiture of its life, accident, and supplemental benefits businesses across six Asia-Pacific markets to Chubb (NYSE: CB). This strategic shift allows Cigna to refocus on its global health portfolio, while expecting approximately $5.1 billion in net after-tax proceeds. The funds will primarily support a share repurchase program, reinforcing Cigna's commitment to enhancing shareholder value. This transaction does not affect Cigna's health operations in North America and other regions.

AM Best has upgraded the outlook for Cigna Corporation's Long-Term Issuer Credit Rating (Long-Term ICR) from stable to positive while affirming its Financial Strength Rating (FSR) of A (Excellent). The Long-Term ICRs for Cigna's key U.S. and European subsidiaries were also revised to positive. Cigna's strong balance sheet, improved risk-adjusted capitalization, and stable earnings are highlighted. However, the company faces elevated financial leverage of about 42% and significant goodwill from the Express Scripts acquisition. Overall, positive growth is projected for core businesses in 2022.

Cigna Corporation (NYSE: CI) has announced a significant $3.5 billion accelerated stock repurchase program as part of its ongoing commitment to enhance shareholder value. This initiative is part of Cigna's broader share repurchase strategy, which retains an authority of approximately $8.8 billion as of June 14, 2022. Cigna aims to repurchase at least $7 billion of shares in 2022, signaling confidence in its cash flow and business strength. The initial share delivery is expected on July 6, 2022, with final settlement anticipated in the fourth quarter of 2022.

Cigna Corporation (NYSE: CI) announced that CFO Brian Evanko will present at the Goldman Sachs 43rd Annual Global Healthcare Conference on June 14, 2022, in Rancho Palos Verdes, CA. The presentation is scheduled to start at approximately 2:20 p.m. ET. A live webcast will be available on Cigna's Investor Relations website, allowing stakeholders to access the discussion and updates regarding the company's performance and strategies. Cigna focuses on improving health and well-being through integrated health services, maintaining a global presence with over 190 million customer relationships.

Cigna Corporation (NYSE: CI) reported robust first quarter 2022 results with total revenues of $44.0 billion and adjusted revenues of $44.1 billion, reflecting growth across its businesses. Shareholders earned $1.2 billion or $3.68 per share, up from $3.30 last year. Adjusted income from operations rose to $1.9 billion, or $6.01 per share. The total customer base grew by 3% year-to-date to 190.4 million, while Cigna's 2022 outlook projects at least $177 billion in adjusted revenues. The company continues to invest in innovation and partnerships.

Cigna Corporation (NYSE: CI) has launched a new provider consult service to enhance health outcomes for patients with complex cancers. This service leverages Cigna's Evernorth health services to connect patients and community oncologists with experts from National Cancer Institute designated centers. In pilot results, 40% of patients received beneficial treatment recommendations based on updated research. The initiative aims to improve patient care, showcasing Cigna's integrated oncology solutions that support patients throughout their cancer journey.

Cigna Corporation (NYSE: CI) declared a cash dividend of $1.12 per share of common stock, scheduled for payment on June 23, 2022. Shareholders of record will be confirmed as of the close of business on June 8, 2022. This move reflects Cigna's commitment to returning value to its shareholders, maintaining strong financial health and operational stability.