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

First Bancorp Inc ME decreased its holdings in shares of Cigna Group (NYSE:CI) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,842 shares of the health services provider’s stock after selling 65 shares during the quarter. First Bancorp Inc ME’s holdings in Cigna Group were worth $609,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Cigna Group during the second quarter worth $58,413,000. Quotient Wealth Partners LLC raised its position in Cigna Group by 7.3% during the second quarter. Quotient Wealth Partners LLC now owns 931 shares of the health services provider’s stock worth $308,000 after acquiring an additional 63 shares in the last quarter. Aspiriant LLC raised its position in Cigna Group by 11.9% during the second quarter. Aspiriant LLC now owns 896 shares of the health services provider’s stock worth $296,000 after acquiring an additional 95 shares in the last quarter. Foster & Motley Inc. raised its position in Cigna Group by 2.9% during the second quarter. Foster & Motley Inc. now owns 6,037 shares of the health services provider’s stock worth $1,996,000 after acquiring an additional 172 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in Cigna Group by 10.7% during the second quarter. Stratos Wealth Partners LTD. now owns 5,615 shares of the health services provider’s stock worth $1,856,000 after acquiring an additional 543 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction dated 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 sale, the insider directly owned 51,182 shares in the company, valued at $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated 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 sale, the insider owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Cigna Group Trading Up 3.0%

CI stock opened at $299.81 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50-day simple moving average is $297.27 and its 200 day simple moving average is $308.13. Cigna Group has a 52 week low of $256.89 and a 52 week high of $353.55. The company has a market capitalization of $80.03 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45.

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

Cigna Group Dividend Announcement

The company also recently disclosed 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 dividend payout ratio is presently 32.97%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CI shares. Wells Fargo & Company upped their price target on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research report on Tuesday, September 2nd. Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Wolfe Research dropped their price objective on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Barclays increased their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cigna Group presently has a consensus rating of “Moderate Buy” and an average 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.