Cigna Group Stock Price, News & Analysis

Cigna (NYSE: CI) and Hartford HealthCare have announced a multi-year agreement to ensure continued access for Cigna customers to Hartford HealthCare's facilities and providers, effective November 1, 2021. This partnership promotes quality care at predictable rates, having been finalized two months ahead of the existing contract's expiration. Both organizations emphasize a shared commitment to affordable healthcare, benefiting patients across Connecticut without disruption to services.

Cigna (NYSE: CI) is expanding its health coverage offerings through the Affordable Care Act marketplace, targeting new customers in Georgia, Mississippi, and Pennsylvania, alongside additional counties in Arizona, Florida, and Virginia. This initiative, pending regulatory approvals, aims to reach approximately 1.5 million new customers across 313 counties in 13 states. Key benefits include virtual wellness screenings, condition-specific coverage, affordable medications, and holistic services. The Open Enrollment Period starts on Nov. 1, 2021, allowing individuals and families to enroll in plans effective Jan. 1, 2022.

Cigna Corporation (NYSE: CI) will present at the Morgan Stanley 19th Annual Global Healthcare Conference on September 14, 2021. The presentation, led by CEO David Cordani, is set to start around 10:15 a.m. ET and can be accessed via a live webcast on Cigna's investor relations page. This event highlights Cigna's commitment to engaging with investors and enhancing transparency in its operations. The company continues to provide integrated health services globally, maintaining over 190 million customer relationships.

Cigna Corporation (NYSE: CI) has announced a $2.0 billion accelerated stock repurchase (ASR) program with Morgan Stanley and JPMorgan Chase, part of its ongoing share buyback strategy. As of August 4, 2021, Cigna had a remaining buyback authority of $3.8 billion. This repurchase reflects the management's confidence in the company's financial strength and growth strategy. By the end of 2021, Cigna aims to return over $7 billion to shareholders through buybacks and increased dividends. The final settlement of the ASR is expected in Q4 2021.

Cigna Corporation announced new vaccination requirements for its U.S. workforce amid rising COVID-19 cases. Starting September 7, remote employees must be fully vaccinated to enter U.S. worksites. Employees requiring onsite presence must also be fully vaccinated or provide two negative tests weekly from October 18. The policy aims to safeguard employees, clients, and communities. Over 90% of employees have been enabled to work from home, and Cigna has provided incentives like a $200 reward for vaccination. The company has been proactive throughout the pandemic, ensuring safety protocols are in place.

Fresenius Medical Care North America (FMCNA) and Cigna (NYSE: CI) announced an expansion of their collaboration aimed at improving health outcomes and reducing the costs associated with end-stage renal disease (ESRD) care. This agreement extends their program through 2023, building on a partnership initiated in 2017 that has successfully lowered medical costs and hospitalizations for Cigna customers. The program operates under Cigna Collaborative Care, employing a value-based care model that incentivizes healthcare providers to enhance patient care and reduce total costs.

Cigna International has launched the Cigna StressWaves Test, an innovative, online tool that evaluates stress levels using advanced AI technology from Ellipsis Health. This is the first model to analyze both acoustic and semantic voice patterns, providing results within 90 seconds. The test is free, HIPAA and GDPR compliant, and designed for accessibility across devices. With rising mental health concerns globally, this tool aims to help individuals assess their stress early and seek appropriate support. Notably, 83% of people report feeling stressed, highlighting the need for such initiatives.

Express Scripts, a part of Evernorth, has been awarded a 7-year contract by the U.S. Department of Defense for the administration of the TRICARE Pharmacy Program. This contract will serve 9.6 million beneficiaries, including active-duty members, their families, and retirees until 2029. Starting January 2023, Express Scripts will enhance its services, offering specialty care and expanded coordination capabilities while continuing home delivery of medications.

Cigna Corporation (NYSE: CI) reported second quarter 2021 results with total revenues of $43.1 billion and net income of $1.5 billion, yielding $4.25 per share. Adjusted income from operations was $1.8 billion ($5.24 per share). Year-to-date, Cigna repurchased 18 million shares for $4.1 billion. Full year 2021 adjusted revenues are projected at at least $170 billion and adjusted income from operations at at least $6.96 billion ($20.20 per share), despite estimated COVID-19 impacts. Customer relationships increased to 191,111 thousand.