Cigna Group Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

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.