First Bancorp Inc ME Has $609,000 Position in Cigna Group $CI

First Bancorp Inc ME reduced its stake in Cigna Group (NYSE:CI) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,842 shares of the health services provider’s stock after selling 65 shares during the period. First Bancorp Inc ME’s holdings in Cigna Group were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CI. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the 1st quarter worth approximately $28,000. 1248 Management LLC acquired a new stake in Cigna Group during the 1st quarter worth approximately $29,000. Activest Wealth Management boosted its position in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after buying an additional 72 shares during the period. Retirement Wealth Solutions LLC boosted its position in Cigna Group by 74.1% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after buying an additional 43 shares during the period. Finally, Saudi Central Bank acquired a new stake in Cigna Group during the 1st quarter worth approximately $36,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the sale, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Cigna Group Stock Up 3.0%

Cigna Group stock opened at $299.81 on Friday. The company has a market capitalization of $80.03 billion, a PE ratio of 16.37, a PEG ratio of 0.88 and a beta of 0.45. The firm’s fifty day moving average is $297.27 and its 200 day moving average is $308.13. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 12-month low of $256.89 and a 12-month high of $353.55.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The business had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Thursday, September 4th. Cigna Group’s payout ratio is 32.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Guggenheim restated a “buy” rating and issued a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.89.

Cigna Group Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.