Cigna Group (CI)

Price—Loading quote

AI: Undervalued

Price checkAt this price, Cigna’s durable earnings appear cheaper than its business risks justify.

At $282.56, the shares cost 9.3 times management’s 2026 adjusted profit forecast of at least $30.45 per share, or about 11.7 times trailing reported earnings of roughly $24.17 per share. “Adjusted” removes acquisition-related charges and special items, so the reported measure is the safer anchor. Both measures are modest for a business still growing profit. Undervalued assumes earnings stay near current levels and regulation does not sharply reduce Express Scripts economics; rapid growth is not required.

Big pictureRevenue keeps rising, but cash and profit show a steadier, slower business.

From 2020 through 2025, revenue rose 71%, from $160.4 billion to $274.9 billion, while operating profit rose only 13%, from $8.15 billion to $9.20 billion. That gap shows drug-cost pass-through and thinner margins, so sales alone overstate progress. Cash from operations—cash generated before investing or financing—stayed between $7.2 billion and $11.8 billion in 2021-2025 and was $9.6 billion in 2025. First-half 2026 produced only $0.7 billion, but quarterly working-capital timing is seasonal; fourth-quarter 2025 alone produced $6.1 billion.

Business strengthScale and a shrinking share count help, while debt limits the safety cushion.

At June 2026, Cigna held $6.3 billion of cash against $30.1 billion of debt, leaving $23.8 billion of net debt, roughly twice 2025 earnings before interest, tax, depreciation and amortization. Current liabilities exceeded current assets by $8.6 billion, limiting downside protection despite recurring cash generation. Shares fell 25.7% from 354.8 million in 2020 to 263.5 million in 2025 after $28.3 billion of 2021-2025 buybacks; dividends added $7.4 billion. Stock compensation was only $0.3 billion in 2025, so repurchases meaningfully reduced dilution.

What could change the storySpecialty care growth could lift value, while pharmacy pricing reforms could erase the discount.

The clearest bull signal is specialty and care services: second-quarter adjusted profit rose 22%, while Cigna Healthcare profit rose 17%. The bear signal sits inside pharmacy benefits, where adjusted profit fell 27% after large client renewals and customer-focused price changes. The February settlement also restricts rebate practices for ten years. Value would strengthen if specialty growth keeps Evernorth’s 2026 profit above management’s $6.9 billion target and per-share profit exceeds $30.45. It would weaken if pharmacy declines overwhelm specialty and employer-plan gains. At 9.3 times that target, the price assumes durability, not collapse.

$282.56 price considered

AI: News

Quarterly beat, cautious reactionCigna beat quarterly expectations and raised its yearly profit target, but the small increase left investors cautious.

On July 30, 2026, adjusted profit was $7.78 per share versus the $7.60 analyst estimate, while revenue was $71.67 billion versus $70.34 billion expected. Management lifted its 2026 target only $0.10 to at least $30.45 per share. The stock closed 2.97% lower that day and another 2.99% lower July 31. That timing does not prove causation; contemporary coverage said the limited forecast increase may have disappointed after the earnings beat.

Marketplace exitCigna will leave individual government marketplaces, trading some revenue for less exposure to unstable medical costs.

On April 30, 2026, management said Cigna would stop offering Affordable Care Act individual plans from January 1, 2027. The business covered 369,000 people across 11 states, about 2% of Cigna’s 18.3 million medical members. The exit should reduce exposure to uneven medical costs and free attention for employer plans, pharmacy benefits and specialty care, but it also surrenders premiums and scale. No reliable single-day stock reaction was established.

Insulin case settledA long settlement changes Express Scripts pricing practices and lowers a major legal overhang.

On February 4, 2026, Express Scripts resolved Federal Trade Commission claims over insulin pricing. The ten-year agreement limits retaining drugmaker rebates tied to list prices, requires annual cost disclosures to employers, and includes three years of independent monitoring. The agency estimated patient savings of up to $7 billion over a decade. Reuters reported Cigna shares briefly added to gains, without quantifying the move. The settlement removes litigation uncertainty but may constrain pharmacy-benefit profit methods.

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	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	$274.90B	$247.12B	$195.26B	$180.52B	$174.07B	$160.40B	$153.57B	$48.65B	$41.81B	$39.84B
Operating income	$9.20B	$9.42B	$8.54B	$8.45B	$7.94B	$8.15B	$8.08B	$4.16B	$3.94B	$3.09B
EBITDAderived	$11.97B	$12.19B	$11.57B	$11.39B	$10.86B	$10.96B	$11.73B	$4.86B	$4.51B	$3.70B
Net income	$5.96B	$3.43B	$5.16B	$6.78B	$5.42B	$8.49B	$5.12B	$2.65B	$2.23B	$1.84B
Basic EPSper diluted share	$22.33	$12.25	$17.57	$21.66	$15.89	$23.17	$13.58	$10.69	$8.92	$7.31
Diluted EPSper diluted share	$22.18	$12.12	$17.39	$21.41	$15.75	$22.96	$13.44	$10.54	$8.77	$7.19

Review source filings at SEC.gov ↗

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys1$999.9K disclosed value

Sells (SEC code S)26$94.78M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Jun 12, 2026Form 4	Kates Jamie GChief Accounting Officer	SellCommon Stock, $.01 Par Value	899	$298.61	$268.5K	2.4K
May 12, 2026Form 4 · 10b5-1	Cordani DavidChairman & CEO	SellCommon Stock, $.01 Par Value	2.2K	$298.53	$666.0K	34.3K
May 12, 2026Form 4 · 10b5-1	Cordani DavidChairman & CEO	SellCommon Stock, $.01 Par Value	15.3K	$298.24	$4.57M	36.6K
May 12, 2026Form 4 · 10b5-1	Cordani DavidChairman & CEO	SellCommon Stock, $.01 Par Value	2.0K	$296.84	$598.7K	51.9K
May 12, 2026Form 4 · 10b5-1	Cordani DavidChairman & CEO	SellCommon Stock, $.01 Par Value	34.6K	$295.98	$10.25M	53.9K

Review ownership filings at SEC.gov ↗

Cigna Group (CI)

Financial charts

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Insider buys & sells