Cigna
About: Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM and specialty pharmacy services, which were greatly expanded by its 2018 merger with Express Scripts, are mostly sold to health insurance plans and employers. Its largest PBM contract is with the Department of Defense (current contract through 2029), and it recently won a multiyear deal with top-tier insurer Centene. In health insurance and other benefits, Cigna primarily serves employers through self-funding arrangements, and the company operates mostly in the US with 17 million US and 2 million international medical members covered as of December 2024.
Employees: 73,500
Fund manager confidence
Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
60% more first-time investments, than exits
New positions opened: 165 | Existing positions closed: 103
51% more call options, than puts
Call options by funds: $1.56B | Put options by funds: $1.03B
11% more repeat investments, than reductions
Existing positions increased: 645 | Existing positions reduced: 580
2% more funds holding
Funds holding: 1,670 [Q1] → 1,701 (+31) [Q2]
0.48% more ownership
Funds ownership: 87.58% [Q1] → 88.05% (+0.48%) [Q2]
1% less capital invested
Capital invested by funds: $78.1B [Q1] → $77.6B (-$506M) [Q2]
39% less funds holding in top 10
Funds holding in top 10: 38 [Q1] → 23 (-15) [Q2]
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
Barclays
Andrew Mok
|
$383
|
Overweight
Maintained
|
4 Sep 2025 |
Cantor Fitzgerald
Sarah James
|
$365
|
Overweight
Reiterated
|
26 Aug 2025 |
Baird
Michael Ha
|
$374
|
Outperform
Maintained
|
14 Aug 2025 |
Wells Fargo
Stephen Baxter
|
$340
|
Equal-Weight
Maintained
|
14 Aug 2025 |
Guggenheim
Jason Cassorla
|
$350
|
Buy
Maintained
|
4 Aug 2025 |
RBC Capital
Ben Hendrix
|
$371
|
Outperform
Reiterated
|
26 Jun 2025 |
Financial journalist opinion
Based on 7 articles about CI published over the past 30 days