The Cigna Group, a global health company, has reaffirmed its outlook for the full-year 2024 and denied any pursuit of a combination with Humana Inc. In a recent press release, The Cigna Group stated that it expects to participate in meetings with investors and analysts over the next few weeks to reaffirm its projected full-year 2024 consolidated adjusted income from operations of at least $28.40 per share and adjusted EPS growth of at least 10% in 2025.
Addressing recent speculation, The Cigna Group clarified that it is not pursuing a combination with Humana Inc. The company emphasized its commitment to considering acquisitions that are strategically aligned, financially attractive, and have a high probability of closing. The Cigna Group remains focused on delivering shareholder value through the execution of operational and financial targets, as well as disciplined capital deployment, including dividends and share repurchases.
The company has actively repurchased $6 billion of its stock year-to-date, including $1 billion in the fourth quarter. It plans to continue repurchasing shares in the fourth quarter of 2024 and throughout 2025. The majority of the proceeds from the sale of its Medicare businesses, expected to close in the first quarter of 2025, will be used for share repurchases. The Cigna Group currently has $5.3 billion remaining on its share repurchase authorization.