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 Q1 regulatory disclosures by fund managers ($100M+ AUM)
73% more funds holding in top 10
Funds holding in top 10: 22 [Q4 2024] → 38 (+16) [Q1 2025]
60% more call options, than puts
Call options by funds: $1.41B | Put options by funds: $879M
48% more first-time investments, than exits
New positions opened: 193 | Existing positions closed: 130
16% more capital invested
Capital invested by funds: $67.1B [Q4 2024] → $77.7B (+$10.6B) [Q1 2025]
2% more funds holding
Funds holding: 1,617 [Q4 2024] → 1,654 (+37) [Q1 2025]
0.29% less ownership
Funds ownership: 87.36% [Q4 2024] → 87.07% (-0.29%) [Q1 2025]
8% less repeat investments, than reductions
Existing positions increased: 570 | Existing positions reduced: 622
Research analyst outlook
10 Wall Street Analysts provided 1 year price targets over the past 3 months
10 analyst ratings
RBC Capital Ben Hendrix | 17%upside $371 | Outperform Reiterated | 3 Jun 2025 |
Barclays Andrew Mok | 21%upside $385 | Overweight Maintained | 2 Jun 2025 |
Guggenheim Jason Cassorla | 22%upside $388 | Buy Reiterated | 23 May 2025 |
Truist Securities David Macdonald | 28%upside $405 | Buy Maintained | 12 May 2025 |
Piper Sandler Jessica Tassan | 18%upside $374 | Overweight Maintained | 5 May 2025 |
Financial journalist opinion
Based on 13 articles about CI published over the past 30 days









