Track market-moving stories before they get noisy

On October 15, 2026, The Cigna Group CI shares rose 3.2% to $298.81, reflecting a positive momentum in the stock amidst a trading range of $239.51 to $311.34 over the past 52 weeks. This increase signals investor confidence as the company navigates the competitive landscape of the healthcare sector.

GF Value™ verdict: The current price is $298.81, compared to a GF Value™ estimate of $395.87, indicating a potential upside of 24.5%.GF Score™ of 73/100 suggests the stock is above average in terms of overall quality.Notable signal: Despite recent price appreciation, insiders have sold $66.8 million in stock over the past 12 months, raising questions about confidence in the current valuation.Is CI Overvalued or Undervalued?The Cigna Group's current share price of $298.81 is significantly below the GF Value™ estimate of $395.87, which suggests the stock is undervalued by approximately 24.5%. This discrepancy presents an opportunity for investors, as it implies a margin of safety that could be attractive. The GF Valuation label categorizes the stock as "Modestly Undervalued," which highlights the potential for future price appreciation should the market recognize Cigna's inherent value.

GF Value™ is GuruFocus' proprietary estimate of a stock's intrinsic value, derived from analyzing historical trading multiples, historical growth rates, and future performance expectations. Given the current price relative to this intrinsic value estimate, investors might view Cigna as a compelling option within the healthcare plans industry.

How Does CI's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)12.4x15.4xForward P/E8.9xN/AThe current P/E (TTM) of 12.4x stands significantly below its 5-year median of 15.4x, indicating that Cigna is trading at a discount compared to its historical valuation. The forward P/E of 8.9x further reinforces this undervaluation perspective. Overall, this P/E analysis aligns with the GF Value™ verdict, suggesting that the stock may be undervalued based on historical trading metrics.

What Does CI's GF Score™ Tell Us?GF Score™ measures a stock's overall quality based on financial strength, profitability, growth potential, valuation metrics, and momentum. The Cigna Group’s score of 73/100 indicates a strong overall position, with its best sub-ranks in profitability and valuation, while momentum ranks notably lower.

MetricRatingGF Score™73Financial Strength5/10Profitability8/10Growth7/10Valuation8/10Momentum1/10The score indicates that Cigna is solid in terms of profitability, with an 8/10 rating reflecting strong earnings performance. However, its financial strength score of 5/10 suggests that there may be some concerns regarding its balance sheet. The valuation rank of 8/10 is favorable, aligning with the undervaluation highlighted by the GF Value™ assessment. The low momentum rank of 1/10 may reflect the recent insider selling, which could be a point of concern for potential investors.

What Are Gurus and Insiders Doing with CI?Currently, 22 gurus hold shares of The Cigna Group, with 11 increasing their positions and 10 trimming their holdings in recent quarters. This mixed activity indicates a degree of confidence in the stock among institutional investors, although the net selling by insiders—totaling $65.8 million over the past 12 months—could be viewed as a red flag concerning future performance.

The significant insider selling compared to the relatively modest buying suggests that those closest to the company may have reservations about the stock's current valuation or future prospects. Such patterns can influence market sentiment and investor confidence.

What This Means for InvestorsBased on the GF Value™ assessment, The Cigna Group appears to be undervalued at its current price of $298.81, presenting a potential investment opportunity. However, the high level of insider selling and low momentum rank should be carefully considered when evaluating the stock's overall attractiveness. Investors may find Cigna's dividend sustainability and growth potential appealing, as long as they remain cognizant of the risks indicated by recent insider activity.

For further details on The Cigna Group CI, visit the stock page for comprehensive analysis and metrics.

Frequently Asked QuestionsWhat is CI's GF Score™?

The Cigna Group has a GF Score™ of 73/100, indicating it is above average in terms of quality and investment potential.

Is CI overvalued or undervalued?

CI is currently undervalued, with a GF Value™ of $395.87 compared to its current price of $298.81, suggesting an upside potential of 24.5%.

What is CI's P/E ratio?

The current P/E ratio for The Cigna Group is 12.4x, which is significantly lower than its 5-year median P/E of 15.4x, indicating that the stock is trading at a discount to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures
I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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Stock to Watch: Cigna (CI - Free Report) Headquartered in Bloomfield, CT and formed in 1982 through the combination of Connecticut General Life Insurance Company and Insurance Company of North America, Cigna Corporation has rebranded itself as The Cigna Group. Cigna completed the acquisition of Express Scripts Holding Company in December 2018. Shares of the new combined company trade on the NYSE under the stock ticker symbol “CI”.

CI is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.26; value investors should take notice.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $30.51 per share. CI boasts an average earnings surprise of +2.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CI should be on investors' short list.

, /PRNewswire/ -- Global health company The Cigna Group (NYSE:CI) will release its third quarter 2026 financial results on Thursday, November 5, 2026, and will host a conference call the same day.

Third quarter 2026 financial results will be released no later than 6:30 a.m. Eastern Time (ET). Management will review these results on a conference call beginning at 8:30 a.m. ET. The call-in numbers are as follows:

Live Call
(888) 566-1889 (Domestic)
(773) 799-3989 (International)
Passcode: 11052026

Replay
(866) 405-7290 (Domestic)
(203) 369-0603 (International)

It is strongly suggested that participants dial in to the conference call by 8:15 a.m. ET on November 5, 2026. A replay of the call will be available from 12:30 p.m. ET on November 5, 2026 until 10:59 p.m. ET on November 19, 2026. Additionally, the conference call will be available on a live internet webcast at https://investors.thecignagroup.com/events-and-presentations/default.aspx in the Investor Relations section of The Cigna Group's website. Please note that this feature will be in listen-only mode.

A copy of the company's news release and financial supplement will be available on The Cigna Group's website in the Investor Relations section at https://investors.thecignagroup.com/overview/default.aspx, no later than 6:30 a.m. ET on November 5, 2026.

About The Cigna Group
The Cigna Group (NYSE:CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products and services marketed under Cigna Healthcare, Evernorth Health Services or its subsidiaries. The Cigna Group maintains sales capabilities in more than 30 markets and jurisdictions, and has over 180 million customer relationships around the world. Learn more at thecignagroup.com.

Investor Relations Contact
Ralph Giacobbe
1 (860) 787-7968
[email protected]

Media Contact
Justine Sessions
1 (860) 810-6523
[email protected]

SOURCE The Cigna Group

By connecting information about each person's health, care and coverage, Health Sense℠ helps people receive continuous personalized support, make informed decisions and act sooner

Projected to reduce inefficient health care spending by 10% by 2030, improving affordability for employers and customers alike. Watch a demonstration of the new Health Sense customer experience. , /PRNewswire/ -- Cigna Healthcare, the health benefits division of The Cigna Group (NYSE: CI), today introduced Health Sense℠, a personalized customer and clinical support model that connects information about a person's health, care, benefits, costs and previous interactions. Health Sense is designed to improve health outcomes and affordability by helping people receive support sooner, make informed decisions with their treating clinician and take the next step.

See how Health Sense carries relevant context across customer interactions.

Health Sense connects context across digital, care management and clinical interactions.

Health Sense builds on Cigna Healthcare’s digital, customer support, care management and clinical capabilities, along with advanced reasoning technology from The Cigna Group. Experience the full interactive Multichannel News Release here: https://www.multivu.com/cigna/9373952-en-cigna-healthcare-introduces-health-sense-personalized-customer-clinical-support-model

Approximately one-third of health care spending is inefficient, driven by duplicative or unnecessary care, administrative complexity, poor coordination and missed opportunities to help people get care at the right time. By helping people act earlier and make better use of their benefits, Health Sense is projected to reduce 10% of this inefficient spending by 2030, lowering costs and improving affordability for customers and their employers.

Health care information, benefits and support are often spread across systems that do not connect, requiring people to navigate multiple sources, make decisions without cost information, and determine what help is available. Health Sense brings those pieces together around each person, connecting them with relevant context based on their circumstances.

Building on previous interactions to create a fuller picture of each person's needs and circumstances, Health Sense carries relevant context from one interaction to the next, helping customers move forward without having to repeat their story.

Health Sense is embedded across the Cigna Healthcare experience that customers already use rather than operating as a one-size-fits-all chatbot or standalone app. It is also grounded in clinically validated information and expertise from Cigna Healthcare physicians, nurses, pharmacists, behavioral health specialists and care management teams. Together, these resources help people understand their options and take informed next steps in support of the treatment plan established by their treating provider.

"Health care becomes harder and often more costly when people must navigate disconnected information, benefits and support on their own," said Bryan Holgerson, president of Cigna Healthcare U.S. and executive vice president of customer health outcomes at The Cigna Group. "Health Sense is designed to create a more complete view of each person's needs and circumstances, connecting people to relevant support sooner through a continuous, personalized experience that helps employers get more value from their health care investments."

From disconnected interactions to a connected path forward

A person managing a new diagnosis may need to piece together clinical guidance from multiple doctors, find an in-network provider, evaluate costs, use available benefits and connect with additional support.

Research commissioned by Evernorth, The Cigna Group's health services business, found that six in 10 Americans are not confident they understand all the health and wellness benefits available through their employer or health plan. Fifty-six percent said navigating care, benefits and vendor offerings is frustrating.

These challenges can be especially consequential for people with complex health needs who must coordinate multiple providers, services and decisions. Health Sense is designed to make the information, benefits and support available through Cigna Healthcare more relevant and easier to use.

"Data provides signals, but context gives those signals meaning," said Dr. Stanley Crittenden, chief medical officer at Cigna Healthcare. "Health Sense combines that context with clinical expertise to help tailor support to the person, the decision and the moment. That fuller picture helps our clinical and care teams recognize potential needs earlier, connect people with relevant resources and make it easier for them to move from information to action with their treating providers."

Support will vary based on a person's needs. For someone navigating cancer, Health Sense may provide a more seamless connection to a case manager. For someone managing a cardiometabolic condition, it may help identify and address medication adherence needs.

Three ways Health Sense creates a more personalized, continuous experience:

Context unique to each person. Health Sense connects available information about a person's health needs, benefits, pharmacy coverage, costs and previous interactions with Cigna Healthcare. This may include medical, behavioral health and pharmacy claims when Cigna or an affiliated company administers those services. The combined context helps digital experiences and care teams tailor support to a person's needs and available benefits. Clinical expertise with greater context. Health Sense provides relevant context to Cigna Healthcare clinical and care teams, helping them personalize support and collaborate more effectively with a person's treating provider to complement an existing treatment plan. It does not diagnose conditions, prescribe or modify treatment, or replace a treating provider. Treatment decisions remain between customers and their treating providers. Meaningful next steps. Health Sense helps people know their options, expected costs and available support; find appropriate in-network care; and prepare for appointments. Clearer choices can help people use their benefits more effectively and identify cost-conscious options when appropriate. This helps avoid unnecessary or duplicative costs, supporting greater affordability for customers and employers alike. Built on existing Cigna Healthcare services

Health Sense builds on Cigna Healthcare's award-winning myCigna digital platform, clinical expertise, established care management programs and advanced reasoning capabilities developed through The Cigna Group's technology investments.

Results from existing Cigna Healthcare programs deliver improved health engagement and greater affordability for both employers and the people that use their health plans:

Provider engagement that was 44% to 80% higher, depending on the program. $5,851 in annual savings among customers who met oncology care management goals. A 37% increase in colorectal cancer screenings. Engagement with diabetes prevention solutions that was 3.4 to 5.3 times higher. Availability

Cigna Healthcare will begin rolling out Health Sense in early 2027, initially for customers with oncology and cardiometabolic health needs. Support will vary based on each customer's circumstances, available benefits and care needs. Any clinical support is intended to complement, not replace, care and treatment from the customer's treating provider.

Evernorth Research Institute analyses found that cancer diagnoses and costs are rising among working-age adults and that progression of cardiometabolic conditions can increase total cost of care by at least 42% in one year. Cigna Healthcare selected these areas for the initial rollout because customers often must coordinate multiple providers, services and decisions.

Cigna Healthcare expects to expand Health Sense to additional customers, conditions, programs and services over time as the company measures outcomes.

FAQ: Health Sense by Cigna Healthcare: How it works, AI, clinical support and availability

About Cigna Healthcare

Cigna Healthcare is a health benefits provider that advocates for better health through every stage of life. We guide our customers through the health care system, empowering them with the information and insight they need to make the best choices for improving their health and vitality. Products and services are provided exclusively by or through operating subsidiaries of The Cigna Group (NYSE: CI), including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Evernorth Health companies or their affiliates, and Express Scripts companies or their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and others.

Learn more at www.cignahealthcare.com.

Media Contact:
Gena Madow
[email protected]

SOURCE Cigna Healthcare

The Cigna Group (CI) Analyst/Investor Day September 30, 2026 8:30 AM EDT

Company Participants

Ralph Giacobbe - Senior Vice President of Investor Relations
Brian Evanko - President, CEO & Director
Matt Perlberg - Executive VP of Customer Innovation and President of Evernorth Pharmacy & Care Delivery
Bryan Holgerson - President of Cigna Healthcare U.S. & Executive VP of Customer Health Outcomes
Adam Kautzner - Pres. of Evernorth Care Mgmt & Express Scripts & EVP of Cust. Personalization
Katherine Andresen - Executive VP & Chief Data, Digital and AI Officer
Amy Flaster - Executive VP & Chief Medical Officer
Ann Dennison - Executive VP & CFO

Conference Call Participants

Alysha Fluno
AJ Ally
Bret Taylor
Ann Hynes - Mizuho Securities USA LLC, Research Division
Albert Rice - UBS Investment Bank, Research Division
Jason Cassorla - Guggenheim Securities, LLC, Research Division
Lisa Gill - JPMorgan Chase & Co, Research Division
Charles Rhyee - TD Cowen, Research Division
Justin Lake - Wolfe Research, LLC
Elizabeth Anderson - Evercore ISI Institutional Equities, Research Division
Lance Wilkes - Bernstein Institutional Services LLC, Research Division
Kevin Fischbeck - BofA Securities, Research Division
Hua Ha - Robert W. Baird & Co. Incorporated, Research Division
Erin Wilson Wright - Morgan Stanley, Research Division
Stephen Baxter - Wells Fargo Securities, LLC, Research Division
George Hill - Deutsche Bank AG, Research Division
Sarah James - Cantor Fitzgerald & Co., Research Division

Conversation

Operator

Welcome to The Cigna Group Investor Day 2026. Please welcome Ralph Giacobbe.

Ralph Giacobbe
Senior Vice President of Investor Relations

Good morning. Welcome to The Cigna Group's 2026 Investor Day. I'm Ralph Giacobbe, Senior Vice President of Investor Relations. And on behalf of our leadership team, we want to thank you for joining us today. We're excited to share how we've deliberately shaped our portfolio to position the Cigna Group where health care is growing and where we can create the greatest value.

Today, you'll hear about our Lead

The Cigna Group CI shares are experiencing a significant decline following the company's reaffirmation of its FY26 guidance during its Investor Day. Investors were hoping for near-term growth indicators, which were not provided. Key financial metrics include:

Adjusted EPS is set at a minimum of $30.45, slightly below the FactSet consensus of $30.51. Adjusted revenue is projected at around $280 billion, falling short of the $287.17 billion consensus. The company maintains its 10-14% adjusted EPS growth algorithm through 2030. A new $3 billion modernization and productivity initiative has been introduced.The “Lead to One” framework aims to enhance growth across Cigna Healthcare and Evernorth’s Specialty & Care Services and Pharmacy Benefit Services by leveraging clinical expertise, data, technology, and AI for better care coordination and affordability. Key features of this initiative include:

Simplification of processes and workflows, along with the deployment of AI-enabled tools. Improved supplier management, with expectations that the program will self-fund. Although management did not provide specific annual spending or savings targets, the initiative is designed to enhance performance.Cigna has reaffirmed its FY26 pre-tax adjusted income targets of at least $6.90 billion for Evernorth and $4.55 billion for Cigna Healthcare, offering more reliable operating benchmarks than adjusted revenue alone due to significant drug-cost pass-through in Pharmacy Benefit Services.

In addition, Cigna's Specialty & Care Services currently supports over one million patients and delivers more than eight million prescriptions each year, achieving a 22% adjusted pre-tax earnings growth in Q2. This segment taps into a specialty-pharmacy market estimated to be nearly $500 billion.

The company has maintained its outlook for a medical care ratio of 83.7-84.7% for Cigna Healthcare’s risk products, reflecting ongoing concerns about elevated utilization and cost trends despite previous pricing actions.

CI's Signature model replaces traditional rebate-dependent economics with a transparent, fee-based structure. The fully insured Cigna Healthcare book is expected to implement this model by 2027, with at least 50% of Evernorth's business transitioning by the end of 2028, aiming for profitability comparable to the legacy model after scaling.

Management is targeting approximately $50 billion in cumulative operating cash flow from 2026 to 2030, which will provide the capacity to fund modernization, strategic investments, dividends, share repurchases, and debt management.

In summary, while Cigna’s Investor Day reaffirmed its long-term growth strategy, it did not enhance the FY26 earnings floor or the previously established EPS growth algorithm. The investment case now hinges on the execution of specialty pharmacy, medical-cost management, productivity, and capital deployment rather than elevated financial targets. The $3 billion modernization initiative could improve operating leverage, but the lack of detailed spending and savings targets complicates its near-term earnings impact. Key performance indicators will include medical care ratio performance, segment earnings growth, Signature model adoption, and the timing and scale of net productivity savings.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

Following deliberate portfolio shaping over the last several years, The Cigna Group is strategically positioned where health care costs are concentrating with multiple avenues for growth Announces "Lead to One" vision, unifying all colleagues around delivering personalization at scale to improve affordability and the patient experience Distinct, industry-leading capabilities in complex care, powered by clinical expertise, data, technology and AI Announces $3B multi-year modernization and productivity initiative to fuel performance Reaffirms 2026 full-year financial guidance and provides long-term financial growth target of 10-14% adjusted EPS CAGR through 2030 , /PRNewswire/ -- Today, at its Investor Day, The Cigna Group (NYSE: CI) will outline its strategy to improve affordability and personalization across the health care continuum. Enterprise leaders will detail how the Company's deliberately shaped portfolio, differentiated leadership in complex care, and disciplined execution position it to deliver durable growth, robust operating cash flow, and enhanced shareholder returns.

"We are proud to announce 'Lead to One,' our vision for the future of health care through personalization at scale. This unifies direction for our enterprise and positions The Cigna Group for continued success as we work to improve the health of the diverse range of customers we serve," said Brian Evanko, President and Chief Executive Officer of The Cigna Group. "We are uniquely positioned in the fastest-growing areas of health care, with a distinct ability to serve patients with complex needs through the combined capabilities of our Evernorth Health Services and Cigna Healthcare businesses. By building on our growth platforms, scaling our differentiated capabilities, and executing with discipline, we are well positioned to deliver durable earnings growth, create long-term shareholder value, and improve affordability and outcomes for those we are privileged to serve."

Introduces "Lead to One" vision to drive durable growth
The Cigna Group is focused on transforming health care by improving affordability and delivering personalization for all customers across the care continuum. "Lead to One" is delivered through the strategic growth framework leaders will outline today:

Deliver core growth: Build on the strong foundation of a deliberately shaped portfolio — including Cigna Healthcare and Evernorth's Specialty & Care Services and Pharmacy Benefit Services — to drive growth. Leverage distinct capabilities: Apply industry-leading complex care capabilities, enabled by clinical expertise, data, technology and AI. Execute with discipline: Maintain a clear vision, consistent execution, operational excellence, a culture of innovation and disciplined capital stewardship. Deliver core growth
The Cigna Group's businesses are connected through shared clinical expertise, data, customer relationships, and distribution capabilities, creating multiple avenues for growth and value creation. This deliberately built foundation is aligned to attractive, growing segments of health care where the Company possesses meaningful scale, differentiated capabilities, and opportunities for continued expansion.

Leverage distinct capabilities 
Complex care is rarely defined by a single diagnosis, medication or episode of care. Patients with complex needs often require support across multiple conditions, specialty and traditional medications, behavioral health, primary and specialty care, and ongoing care navigation. The Cigna Group's advantage comes from its ability to engage patients across more of that journey than most organizations, creating visibility into the factors that influence outcomes, affordability and experience. Supporting these patients requires a unique breadth of capabilities, and The Cigna Group's growth platforms work together to understand, anticipate and manage clinical complexity:

Evernorth Specialty & Care Services: Supports more than one million patients with complex conditions and delivers more than 8 million prescriptions annually, combining deep clinical expertise, nationwide provider and distribution capabilities, and personalized support models that improve access, adherence, and outcomes. This combination has established Evernorth as a trusted partner to patients, providers, health systems, and drug manufacturers. Cigna Healthcare: Delivers more personalized and proactive experiences across the full spectrum of patient requirements, from identifying emerging oncology needs earlier to providing AI-enabled navigation and advocacy support. Evernorth Pharmacy Benefit Services: Integrates pharmacy benefits, clinical insights, and supply chain expertise to improve affordability, support better adherence, and drive better outcomes at scale. Together, these capabilities enable The Cigna Group to identify risk earlier, connect fragmented information across the health care system, and intervene before higher-cost events occur. This ability to understand and manage complexity creates a meaningful advantage in affordability, personalization and outcomes, while positioning the Company to capture a growing share of one of health care's largest and fastest-growing segments.

Evanko continued, "The capabilities that make us a leader in complex care are also being applied to improve how health care is experienced across the broader population. By bringing together data, clinical expertise and AI through our health intelligence engine, we can identify needs earlier, personalize support and help lower the total cost of care. As we continue to scale these capabilities, we will create value for customers, clients and shareholders alike through better outcomes, lower costs and a more connected health care experience."

As part of its commitment to supporting people living with complex conditions, The Cigna Group Foundation is announcing a new $10.5 million, three-year grant program to expand community support for patients and caregivers and help address non-clinical barriers to treatment. The program will focus on strengthening the services and support systems that help patients start, stay on and benefit from treatment, including care navigation, education, peer support, mental health resources and assistance with essential social needs.

Execute with discipline
The Cigna Group will continue to fuel sustainable growth through operational excellence, expense discipline, and capital flexibility enabled by the Company's capital-light model.

Reaffirms 2026 guidance and provides 2030 financial targets
The Cigna Group reaffirms its 2026 financial guidance:

Consolidated Adjusted Revenues of ~$280 billion Consolidated Adjusted EPS of at least $30.45 Evernorth Health Services pre-tax adjusted income from operations of at least $6.90 billion Cigna Healthcare pre-tax adjusted income from operations of at least $4.55 billion Medical care ratio of 83.7% to 84.7% The Cigna Group provides 2026 – 2030 financial targets:
(All financial targets are through year end 2030 unless otherwise noted)

10-14% Adjusted EPS CAGR ~$50 billion in cumulative operating cash flow As part of its "Lead to One" vision, The Cigna Group is announcing a new $3 billion multi-year modernization and productivity initiative to support growth and financial performance. The initiatives will focus on modernizing processes and streamlining workflows, empowering colleagues with AI-enabled insights and tools to drive greater effectiveness, along with driving disciplined supplier and vendor management.

"We are building on a proven track record of delivering consistent and differentiated adjusted EPS growth through disciplined execution," said Ann Dennison, Executive Vice President and Chief Financial Officer of The Cigna Group. "Our long-term growth targets are supported by our clear growth pillars, distinct capabilities, and our new multi-year modernization and productivity initiative, which will self-fund and fuel our performance. We are positioned to deliver attractive, sustainable growth, robust operating cash flow, and enhanced shareholder returns."

Webcast information
The event will begin at 8:30 a.m. ET. A live webcast of the presentation will be available at https://www.thecignagroupinvestorday.com. 

To listen to this presentation live on the Internet, visit https://www.thecignagroupinvestorday.com at least 15 minutes prior to the presentation to download and install any necessary audio software.

About The Cigna Group
The Cigna Group (NYSE: CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products and services marketed under Cigna Healthcare, Evernorth Health Services or its subsidiaries. The Cigna Group maintains sales capabilities in more than 30 markets and jurisdictions and has over 180 million customer relationships around the world. Learn more at thecignagroup.com

Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on The Cigna Group's current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning our projected adjusted revenue for 2026; projected adjusted income from operations for 2026 on a segment basis, projected adjusted earnings per share and earnings per share growth rate for 2026 and future periods for The Cigna Group, Evernorth Health Services (including Pharmacy Benefit Services and Specialty & Care Services) and Cigna Healthcare; projected medical care ratio for 2026; projected cash flow from operations; future financial or operating performance, including our ability to improve the health and vitality of those we serve; our market opportunities; economic, regulatory or competitive environments; future growth (including growth of Evernorth Health Services and Cigna Healthcare), business strategy, and strategic or operational initiatives, including our modernization and productivity initiatives, and ability to successfully implement actions across our business to strengthen our platform and build a more sustainable model for healthcare; our prospects for growth in the coming years; and other statements regarding The Cigna Group's future beliefs, expectations, plans, intentions, liquidity, cash flows, financial condition or performance. You may identify forward-looking statements by the use of words such as "believe," "expect," "project," "plan," "intend," "anticipate," "estimate," "predict," "potential," "may," "should," "will" or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.

Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: our ability to manage health care costs and respond to price competition, inflation and other pressures that could compress our margins or result in premiums that are insufficient to cover the cost of services delivered to our customers; our ability to compete effectively, differentiate our products and services from those of our competitors and adapt to changes in an evolving and rapidly changing industry; our ability to develop and effectively implement products and services to improve the accessibility, affordability and transparency of health care; changes in drug pricing or industry pricing benchmarks; our ability to maintain relationships with one or more key pharmaceutical manufacturers or if payments made or discounts provided decline; changes in the pharmacy provider marketplace or pharmacy networks; the potential for actual claims to exceed our estimates related to expected medical claims; our ability to develop and maintain satisfactory relationships with health care payors, physicians, hospitals, other health service providers and with producers and consultants; potential liability in connection with managing medical practices and operating pharmacies, onsite clinics and other types of medical facilities; uncertainties surrounding participation in government-sponsored programs and providing services to payors who participate in government-sponsored programs; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; compliance with applicable privacy, security and data laws, regulations and standards; the outcome of litigation, regulatory audits and investigations; compliance costs and potential failure of our prevention, detection and control systems; our ability to invest in and properly maintain our information technology and other business systems; our ability to prevent or contain effects of a potential cyberattack or other privacy or data security incident; risks related to our use of artificial intelligence and machine learning; dependence on success of relationships with third parties; risk of significant disruption within our operations or among key suppliers or third parties; political, legal, operational, regulatory, economic and other risks that could affect our multinational operations, including currency exchange rates; risks related to strategic transactions and realization of the expected benefits of such transactions, as well as integration or separation difficulties or underperformance relative to expectations; which could lead to an impairment charge; our ability to achieve our strategic and operational initiatives; unfavorable economic and market conditions, the risk of a recession or other economic downturn and resulting impact on employment metrics, stock market or changes in interest rates; risks related to a downgrade in financial strength ratings of our insurance subsidiaries; the impact of our significant indebtedness and the potential for further indebtedness in the future; credit risk related to our reinsurers; as well as more specific risks and uncertainties discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available through the Investor Relations section of www.thecignagroup.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. The Cigna Group undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.

Notes
Adjusted revenues is used by The Cigna Group's management because it facilitates analysis of trends in underlying revenue. The Cigna Group defines adjusted revenues as total revenues excluding the following adjustments: special items and The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management believes are not representative of the underlying results of normal, recurring operations due to their nature or size. We exclude these items from this measure because management believes they are not indicative of past or future underlying performance of the business. Adjusted revenues are not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, total revenues.

Adjusted income (loss) from operations is a principal financial measure of profitability used by The Cigna Group's management because it presents the underlying results of operations of The Cigna Group's businesses and facilitates analysis of trends in underlying revenue, expenses and shareholders' net income. Adjusted income (loss) from operations is defined as shareholders' net income (or income before taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding net investment gains/losses, amortization of acquired intangible assets and special items. The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of normal, recurring operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders' net income.

Management is not able to provide a reconciliation of adjusted income from operations to shareholders' net income or adjusted revenues to total revenues on a forward-looking basis because we are unable to predict, without unreasonable effort, certain components thereof including (i) future net investment results and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond our control. As such, any associated estimate and its impact on shareholders' net income and total revenues could vary materially.

The Cigna Healthcare medical care ratio represents medical costs as a percentage of premiums for all Cigna Healthcare risk products provided through guaranteed cost or experience-rated funding arrangements. Changes in percentages may be expressed in basis points.

The Cigna Group's outlook excludes the potential effects of any business combinations that may occur after the date of this press release. The Cigna Group's outlook includes the potential effects of expected future share repurchases and anticipated 2026 dividends.

The Cigna Group currently intends to pay regular quarterly dividends, with future declarations subject to approval by its Board of Directors and the Board's determination that the declaration of dividends remains in the best interests of The Cigna Group and its shareholders. The decision of whether to pay future dividends and the amount of any such dividends will be based on The Cigna Group's financial position, results of operations, cash flows, capital requirements, the requirements of applicable law and any other factors the Board of Directors may deem relevant.

The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. The share repurchase program may be affected through open market purchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, including through Rule 10b5-1 trading plans, or privately negotiated transactions. The program may be suspended or discontinued at any time.

Investor Relations Contact
Ralph Giacobbe
1 (860) 787-7968
[email protected]

Media Contact
Justine Sessions
1 (860) 810-6523
[email protected]

SOURCE The Cigna Group

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We believe that there is nothing more fundamental and reflective of economic health than the employment situation, and the latest data reflects an economy showing persistent growth. After July’s disappointing payroll print, the August employment report rebounded strongly. Nonfarm payrolls jumped 162,000, roughly three times consensus expectations, while June and July were both revised meaningfully higher (June to +31,000 and July from a negative reading to +21,000). Taken together, the average monthly employment data now shows an economy adding jobs at a healthier clip than the initial headlines suggested while getting back to a more normal pace of jobs gains (exhibit 1). The August report also provided a useful reminder of why we should resist reading too much into any single monthly report and instead look at trends, revisions, and corroborating data to judge the labor market’s true state.

The details reinforce this message. The labor force participation rate rose to 61.6%, its strongest level in roughly a year, meaning more people were pulled off the sidelines even as the unemployment rate held steady at 4.1%. Average hourly earnings rose 0.3% month-over-month, which was in line with expectations. More telling is the U-6 rate that captures the underemployed and those working part-time who would prefer full-time work. This gauge of underemployed has been trending down from 8.7% in November 2025 to 7.7% in August (exhibit 2). Since labor force growth remains slow, even modest hiring gains can meaningfully tighten the market at the margins. We view this combination of firm demand and stabilizing supply as evidence of an economy still expanding.

Not every signal is as encouraging. Real personal income excluding transfer receipts, an inflation-adjusted measure of income from wages, investments, and proprietors excluding government support, fell 0.38% year-over-year in July, its fifth consecutive negative reading (exhibit 3). This decline is modest in aggregate but masks the more acute strain at the lower end of the income spectrum, an area we continue to watch closely.

See more: How “Tactical Allocation” Mutual Funds Fared Over the Last Five Years

Meanwhile, business sentiment is quietly improving. The JP Morgan Global Composite Purchasing Manager Index (PMI) points to the fastest growth in over two years, and survey-based business uncertainty trackers have fallen sharply from April’s highs, though they remain above their long-run average.

Globally, growth in the services sector was led by the financial sector, while consumer spending also increased from the war-related slowdown we experienced in the second quarter. Domestically, the ISM Services PMI climbed to 55.4 in August, which indicates strong expansion, marking nine consecutive months above 53 (exhibit 4). Business activity and new orders both accelerated to multi-year highs as well.

INVESTMENT IMPLICATIONS

In aggregate, we expect continued positive economic momentum, which could lead to strong corporate earnings and higher equity markets. At the same time, interest rate risk has been a headwind for bonds though our Strategies remain overweight equities compared to bonds. 

Within our equity exposure, we continue to favor U.S. equities over foreign. As with the broader equity market, information technology remains our largest equity sector, and we see tactical opportunities in financials (regional banks) and health care.

Regarding our fixed income allocations, we prefer holdings in the belly of the yield curve to take on somewhat less interest rate risk than the aggregate bond index. We continue to favor high-quality asset-backed securities and corporate bonds and are underweight U.S. Treasuries.

Finally, our alternative allocations emphasize multi-asset real return and options overlay strategies for diversified return streams. 

THE CASH INDICATOR

The Cash Indicator (CI) currently reads 11.26, well below its long-term median of 25 and far from crossing a cash raise threshold. While the CI spiked temporarily during the Middle East conflict, it has since settled back down to these low levels, which suggests confidence in the credit market despite some equity market skittishness. However, it is worth noting that readings this subdued can also reflect market complacency, and historically compressed levels like these can precede periods of higher volatility rather than confirming more calm ahead.

For more news, information, and analysis, visit the ETF Strategist Content Hub.

Shelton Capital Management (Shelton) is a boutique investment firm that helps investors pursue their financial goals through tailored investment solutions and human-centric customer service. Founded in 1985, the company provides mutual funds, ETFs, ETF-based portfolios and separately managed accounts to the clients of wealth managers, retirement plans, and individual investors. As of June 30, 2026, the firm manages more than $7.8 billion in assets across fixed income portfolios, U.S. equity and international equity strategies, ESG solutions, and equity income products leveraging our expertise in options. Over the decades, Shelton has collected awards from established sources such as Morningstar, Lipper, Forbes Advisor, and Pension & Investments.
The company continues to add key employee talent and expand their institutional expertise. Shelton is headquartered in Denver, Colorado with additional offices in San Francisco and Memphis. For more information, visit www.sheltoncap.com.

Any forecasts, figures, opinions or investment techniques and strategies explained are solely the authors as of the date of publication. They are considered to be accurate at the time of writing, but no warranty of accuracy is given and no liability in respect to error or omission is accepted. They are subject to change without reference or notification. The views contained herein are not be taken as an advice or a recommendation to buy or sell any investment and the material should not be relied upon as containing sufficient information to support an investment decision. It should be noted that the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested.

Past performance and yield may not be a reliable guide to future performance. Current performance may be higher or lower than the performance quoted. The securities identified and described may not represent all of the securities purchased, sold or recommended for client accounts. The reader should not assume that an investment in the securities identified was or will be profitable.

Data is provided by various sources and has not been verified or audited by an independent accountant.

Key Takeaways Cigna's expanded AI care tools aim to spot complex health needs earlier and guide members to care.CI expects AI-enabled programs to reach 20% more customers with emerging complex health needs.Pharmacy Forward targets a 50% cut in time to therapy and up to 50% less clinician documentation time. The Cigna Group (CI - Free Report) is expanding its use of artificial intelligence as healthcare costs remain elevated. The company is combining AI-driven insights with clinical expertise to identify emerging health needs earlier and guide members toward appropriate care. This approach could help address costly interventions before conditions become more severe, while also improving the overall healthcare experience.

Its expanded AI-enabled care coordination capabilities can identify conditions such as cancer, heart disease and high-risk pregnancies at an earlier stage. Cigna expects the expanded capabilities to reach 20% more customers with emerging complex health needs. Customers participating in these programs have reduced medical costs by about $2,000 annually on average, while early engagement has contributed to a 42% reduction in avoidable inpatient stays.

It is also applying AI to specialty pharmacy through Pharmacy Forward. The program is designed to shorten the time between prescription and treatment while reducing administrative work for clinicians. Cigna expects the initiative to cut average time to therapy by half while reducing clinicians’ documentation time by as much as 50%. These efforts complement broader moves toward specialty generics and biosimilars, which are helping lower drug costs for patients and clients.

Still, AI alone will not resolve the industry’s cost pressures. CI’s medical cost trend remained elevated in the second quarter of 2026, with management expecting elevated trends through 2026 and 2027, while its MCR deteriorated 130 basis points year over year. Its ability to combine predictive analytics, clinical programs and pharmacy capabilities could give additional tools to manage costs while improving access to care.

How Are Competitors Faring?Some of CI’s major competitors in the healthcare service provider space are UnitedHealth Group Incorporated (UNH - Free Report) and Humana Inc. (HUM - Free Report) .

UnitedHealth is expanding AI across UnitedHealthcare and Optum to simplify care, anticipate health risks and reduce administrative work. UNH plans nearly $1.5 billion in AI-related investment in 2026, with applications spanning care navigation, disease prediction and clinical documentation.

Humana is applying AI to streamline member support and healthcare administration. HUM’s Agent Assist solution uses Google Cloud AI to help member advocates provide faster, more personalized responses, while broader efforts to simplify prior authorization are aimed at reducing administrative friction and improving care access.

Cigna’s Price Performance, Valuation & EstimatesShares of CI have risen 4.3% over the past six months compared with the industry’s growth of 36.4%.

Image Source: Zacks Investment Research

From a valuation standpoint, Cigna trades at a forward price-to-earnings ratio of 8.47, below the industry average of 15.27. CI carries a Value Score of A.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Cigna’s 2026 earnings is pegged at $30.51 per share, implying 2.3% growth from the year-ago period.

Image Source: Zacks Investment Research

CI stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Cigna (CI - Free Report) Headquartered in Bloomfield, CT and formed in 1982, Cigna Corporation has rebranded itself as The Cigna Group. The company was formed as a result of a merger between Connecticut General Life Insurance Company and Insurance Company of North America. Cigna completed its combination with Express Scripts Holding Company by the end of 2018. Shares of the new combined company trade on the NYSE under the stock ticker symbol “CI.”

CI is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. CI has a Growth Style Score of B, forecasting year-over-year earnings growth of 2.3% for the current fiscal year.

Nine analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.12 to $30.51 per share. CI also boasts an average earnings surprise of +2.3%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CI should be on investors' short list.

Everett sold 617 shares at $284.05 per share for a total value of ~$175,000 on September 3, 2026. The transaction involved shares equal to 11% of the equity held before the filing.

BLOOMFIELD, Conn., Sept. 9, 2026 /PRNewswire/ -- Global health company The Cigna Group (NYSE: CI) will host its Investor Day on Wednesday, September 30, 2026.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Cigna (CI - Free Report) Headquartered in Bloomfield, CT and formed in 1982, Cigna Corporation has rebranded itself as The Cigna Group. The company was formed as a result of a merger between Connecticut General Life Insurance Company and Insurance Company of North America. Cigna completed its combination with Express Scripts Holding Company by 2018-end. Shares of the new combined company trade on the NYSE under the stock ticker symbol “CI.”

CI is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.14; value investors should take notice.

Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.12 to $30.51 per share. CI boasts an average earnings surprise of +2.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CI should be on investors' short list.

Industry-first connected benefits experience helps people access cash benefits when they need it most and gives employers more affordable coverage options

, /PRNewswire/ -- Cigna Healthcare®, the health benefits division of The Cigna Group (NYSE: CI), is introducing a new connected benefits experience that helps people pay for costs associated with unexpected or costly health events by bringing medical and supplemental health benefits together in a simpler, more personalized way.

Smart Coverage makes it easier for customers to access cash benefits tied to covered health events, such as an injury, illness or hospitalization.

Industry-first benefit that employers can add to their high-deductible health plan offerings, giving employees greater financial confidence when unexpected, high-cost health events occur. By linking medical and supplemental health benefits, the new solution reduces administrative complexity and helps customers identify and use their available benefits. It also makes it easier to access cash benefits tied to covered health events, such as an injury, illness or hospitalization.

Medical with Smart Coverage is an industry-first benefit that employers can add to their high-deductible health plan offerings, giving employees greater financial confidence when unexpected, high-cost health events occur. Eligible customers may receive up to $7,000 in supplemental cash benefits tied to covered health events, which can help cover medical expenses or everyday costs such as transportation, child care and other expenses that can arise while receiving care.

"People want the peace of mind that comes from knowing they're covered when an unexpected or costly health event occurs, especially as rising hospital and prescription drug costs, inflation and other financial pressures continue to strain household budgets," said Bryan Holgerson, President, Cigna Healthcare U.S. and Executive Vice President, Customer Health Outcomes, The Cigna Group. "That's why we're bringing medical and supplemental benefits closer together. By making it easier to access additional funds when they're needed most, we're helping people feel more financially confident while giving employers new ways to offer affordable, meaningful benefits."

Easier Access to Benefits Already Available
Today, many employees who are eligible for supplemental health benefits never submit claims because they are unaware of their coverage, find the process confusing, or are focused on their health and recovery. To help customers access their cash benefits more seamlessly, the new connected experience includes Simple File Sync Plus. Through the capability, qualifying medical claims are automatically matched to eligible supplemental benefits. This helps customers receive available cash payments with fewer administrative steps and identify benefits they may otherwise miss.

Research from Cigna Healthcare and Ipsos highlights why making benefits easier to access matters. Nearly 60% of Americans say they are not financially prepared for a health event, while 44% report spending $1,000 or more out of pocket following a diagnosis, injury or hospitalization. Yet fewer than one-third understand that supplemental benefits can be used for everyday expenses such as groceries, housing or child care.

"When someone experiences an unexpected or costly health event, the last thing they want to do is sort through benefits and paperwork," said Paul Virtell, President of Supplemental Health at Cigna Healthcare. "Many people have access to cash benefits that can help pay for medical or everyday expenses, but they may not know where to find them or how to use them. Smart Coverage helps connect people to that support more seamlessly, so they can focus on their health."

High-deductible health plans have become increasingly common in employer-sponsored coverage. According to the U.S. Bureau of Labor Statistics, half of workers with employer-sponsored medical coverage were offered a high-deductible health plan in 2024, up from 38% in 2015. Cigna Healthcare internal data also show that employees are more than two-and-a-half times more likely to enroll in a high-deductible health plan when supplemental health benefits are available.

Availability

Medical with Smart Coverage: Available Jan. 1, 2027, for Cigna Healthcare U.S. clients with 500 to 2,999 employees offering qualifying high-deductible health plans. Broader availability is planned for 2028. Simple File Sync Plus: Currently available to eligible clients, with broader expansion planned over time. About Cigna Healthcare
Cigna Healthcare is a health benefits provider that advocates for better health through every stage of life. We guide our customers through the health care system, empowering them with the information and insight they need to make the best choices for improving their health and vitality. Products and services are provided exclusively by or through operating subsidiaries of The Cigna Group (NYSE: CI), including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Evernorth Health companies or their affiliates and Express Scripts companies or their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and others.

Learn more at www.cignahealthcare.com.

Media Contact: 
Kelly Mathews
[email protected]

SOURCE Cigna Healthcare

Key Takeaways Cigna's Smart Coverage may provide eligible members up to $7,000 for covered health events.Simple File Sync Plus automatically matches qualifying medical claims with supplemental benefits.Smart Coverage launches Jan. 1, 2027, for U.S. clients with 500 to 2,999 employees. The Cigna Group’s (CI - Free Report) health benefits arm, Cigna Healthcare, is linking medical and supplemental health benefits through a new connected experience designed to make cash support easier to access for costly health events. Its Medical with Smart Coverage option can be added to qualifying high-deductible health plans and may provide eligible members up to $7,000 for covered injuries, illnesses or hospitalizations.

Cigna is also rolling out Simple File Sync Plus, which automatically matches qualifying medical claims with eligible supplemental benefits, reducing paperwork and missed claims. Smart Coverage launches Jan. 1, 2027, for U.S. clients with 500 to 2,999 employees at launch, with broader availability planned for 2028.

The move targets a clear affordability gap in employer health coverage. Cigna and Ipsos found nearly 60% of Americans are not financially prepared for a health event, while 44% have spent at least $1,000 out of pocket after a diagnosis, injury or hospitalization. Fewer than one-third understand that supplemental benefits can also cover everyday costs including groceries, housing or child care.

Meanwhile, half of workers with employer-sponsored medical coverage were offered a high-deductible plan in 2024, versus 38% in 2015. Cigna says employees are more than 2.5 times likelier to enroll when supplemental benefits are available alongside them today.

The launch could strengthen Cigna’s employer offering by making high-deductible plans easier to sell and supplemental coverage easier to use. That may support client retention, new account wins and higher participation in supplemental products, creating incremental premium and fee opportunities over time.

How Are Peers Placed?UnitedHealth Group Incorporated (UNH - Free Report) and Elevance Health, Inc. (ELV - Free Report) offer solutions that are similar to the connected-benefits approach. UnitedHealthcare’s Benefit Ally combines medical coverage with accident, critical-illness and hospital-indemnity benefits. For qualifying medical events, the system can automatically identify eligibility and trigger supplemental payouts, reducing or eliminating the need for employees to file separate claims. UnitedHealth also has Benefit Assist, which uses integrated medical-claims data to initiate supplemental claims. Elevance is doing something similar through Anthem. Its Whole Health Connection links Anthem medical coverage with accident, critical-illness and hospital-indemnity plans. When medical claims indicate that a member may qualify for a supplemental benefit, Anthem automatically alerts the member.

CI’s Price Performance, Valuation and EstimatesShares of Cigna have gained 2% year to date, underperforming the broader industry’s growth of 22.1%.

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From a valuation standpoint, Cigna trades at a forward price-to-earnings ratio of 8.67X, down from the industry average of 16.13X. CI carries a Value Score of A.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Cigna’s 2026 earnings implies 2.3% growth year over year, followed by a 9.5% improvement next year.

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The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Cigna (CI - Free Report) Headquartered in Bloomfield, CT and formed in 1982, Cigna Corporation has rebranded itself as The Cigna Group. The company was formed as a result of a merger between Connecticut General Life Insurance Company and Insurance Company of North America. Cigna completed its combination with Express Scripts Holding Company by 2018-end. Shares of the new combined company trade on the NYSE under the stock ticker symbol “CI.”

CI is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. CI has a Growth Style Score of B, forecasting year-over-year earnings growth of 2.2% for the current fiscal year.

Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.11 to $30.50 per share. CI boasts an average earnings surprise of +2.3%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CI should be on investors' short list.

B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Cigna Group (NYSE:CI – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,312 shares of the health services provider’s stock, valued at approximately $9,735,000.

Several other large investors have also recently bought and sold shares of the business. Silvant Capital Management LLC purchased a new position in shares of Cigna Group during the 2nd quarter valued at $1,683,000. Mystic Asset Management Inc. purchased a new stake in shares of Cigna Group during the second quarter worth $2,808,000. Portfolio Design Labs LLC acquired a new stake in Cigna Group during the second quarter valued at $425,000. Advisors Capital Management LLC acquired a new stake in Cigna Group during the second quarter valued at $412,000. Finally, PCM Encore LLC purchased a new position in Cigna Group in the second quarter valued at about $651,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cigna Group In other Cigna Group news, insider Nicole S. Jones sold 19,436 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $276.27, for a total value of $5,369,583.72. Following the sale, the insider directly owned 27,256 shares in the company, valued at $7,530,015.12. This trade represents a 41.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $298.61, for a total transaction of $268,450.39. Following the transaction, the chief accounting officer owned 2,368 shares in the company, valued at approximately $707,108.48. The trade was a 27.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 23,012 shares of company stock worth $6,386,550. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades A number of equities research analysts have recently weighed in on the company. UBS Group raised their price target on Cigna Group from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Mizuho boosted their price target on Cigna Group from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Royal Bank Of Canada increased their price objective on Cigna Group from $333.00 to $337.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cigna Group in a research report on Monday, June 1st. Finally, Guggenheim lifted their target price on shares of Cigna Group from $338.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group currently has an average rating of “Moderate Buy” and an average price target of $339.45. View Our Latest Report on Cigna Group

Cigna Group Stock Down 1.1% CI opened at $274.50 on Friday. The business has a 50 day moving average price of $284.63 and a 200 day moving average price of $281.41. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $72.53 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29.

Cigna Group (NYSE:CI – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 earnings per share for the quarter, topping analysts’ consensus estimates of $7.60 by $0.18. The business had revenue of $70.04 billion during the quarter, compared to analysts’ expectations of $70.14 billion. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. Cigna Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $7.20 earnings per share. Cigna Group has set its FY 2026 guidance at 30.450- EPS. Research analysts forecast that Cigna Group will post 30.51 EPS for the current year.

Cigna Group Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 8th will be given a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 8th. Cigna Group’s payout ratio is currently 25.82%.

About Cigna Group (Free Report)

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.

See Also Five stocks we like better than Cigna Group 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI – Free Report).

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Cigna Group remains a "Buy," with double-digit adjusted EPS growth intact and shares trading 28% below fair value. CI's Accredo and AI-powered Pharmacy Forward platforms are key growth drivers, supporting robust revenue and margin expansion through 2028. The company boasts an A- S&P credit rating, strong free cash flow, and a secure, growing dividend with low payout ratios.

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Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

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Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

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That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Cigna (CI - Free Report) Headquartered in Bloomfield, CT and formed in 1982, Cigna Corporation has rebranded itself as The Cigna Group. The company was formed as a result of a merger between Connecticut General Life Insurance Company and Insurance Company of North America. Cigna completed its combination with Express Scripts Holding Company by 2018-end. Shares of the new combined company trade on the NYSE under the stock ticker symbol “CI.”

CI is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 8.98; value investors should take notice.

For fiscal 2026, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.11 to $30.50 per share. CI boasts an average earnings surprise of +2.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CI should be on investors' short list.

Posted by Defense World Staff on Aug 1st, 2026

Bank of America Corp DE grew its stake in shares of Cigna Group (NYSE:CI – Free Report) by 8.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,182,083 shares of the health services provider’s stock after acquiring an additional 256,677 shares during the period. Bank of America Corp DE owned about 1.20% of Cigna Group worth $848,821,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Evercore Wealth Management LLC raised its holdings in Cigna Group by 2.8% during the 1st quarter. Evercore Wealth Management LLC now owns 1,301 shares of the health services provider’s stock worth $347,000 after buying an additional 35 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Cigna Group by 11.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 363 shares of the health services provider’s stock worth $100,000 after buying an additional 36 shares during the period. OLD National Bancorp IN increased its position in shares of Cigna Group by 3.7% in the fourth quarter. OLD National Bancorp IN now owns 1,031 shares of the health services provider’s stock worth $284,000 after acquiring an additional 37 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Cigna Group by 2.5% in the fourth quarter. IHT Wealth Management LLC now owns 1,535 shares of the health services provider’s stock worth $423,000 after acquiring an additional 38 shares in the last quarter. Finally, Whetstone Capital Advisors LLC raised its holdings in shares of Cigna Group by 4.9% during the fourth quarter. Whetstone Capital Advisors LLC now owns 829 shares of the health services provider’s stock valued at $228,000 after acquiring an additional 39 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes A number of equities analysts recently commented on the stock. Sanford C. Bernstein raised their price objective on shares of Cigna Group from $371.00 to $381.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Guggenheim raised their target price on Cigna Group from $338.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley lifted their price target on Cigna Group from $355.00 to $361.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Robert W. Baird set a $362.00 price target on Cigna Group in a research report on Friday. Finally, Jefferies Financial Group reduced their price objective on Cigna Group from $333.00 to $330.00 and set a “buy” rating for the company in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $341.60.

Check Out Our Latest Stock Analysis on Cigna Group

Cigna Group News Roundup Here are the key news stories impacting Cigna Group this week:

Positive Sentiment: Cigna reported adjusted second-quarter earnings of $7.78 per share, above the roughly $7.60 consensus estimate, while revenue rose 7% year over year to approximately $71.7 billion. Cigna Healthcare revenue increased 9%, and Evernorth Health Services revenue grew 6%. Cigna Q2 results and outlook Positive Sentiment: Management raised its 2026 adjusted earnings outlook to at least $30.45 per share, implying approximately 10% earnings growth, supported by strength across the healthcare and pharmacy-benefit businesses. Cigna raises annual profit forecast Positive Sentiment: Analyst sentiment remains constructive: Barclays raised its price target from $304 to $310 while retaining an “equal weight” rating. A separate analysis highlighted CI’s discounted valuation, ongoing share repurchases, strong cash generation, and $1.56-per-share dividend. Cigna valuation analysis Neutral Sentiment: The earnings beat was accompanied by revenue that was slightly below some analyst estimates, and Barclays’ “equal weight” stance suggests the improved outlook may already be partly reflected in the stock. Negative Sentiment: Cigna expects lower growth in prescriptions for popular GLP-1 drugs. Because these treatments are a significant growth area for pharmacy services, slower utilization could temper future revenue and profit expansion. Cigna GLP-1 prescription outlook Negative Sentiment: Elevated medical costs and higher pharmacy expenses remain industrywide risks. Those pressures may explain why investors initially treated the guidance increase cautiously despite Cigna’s higher profit and broad-based operating growth. Insider Buying and Selling In other Cigna Group news, CEO David Cordani sold 201,878 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the completion of the sale, the chief executive officer owned 34,337 shares of the company’s stock, valued at $10,054,560.34. This represents a 85.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of Cigna Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the completion of the transaction, the chief accounting officer directly owned 2,368 shares in the company, valued at approximately $707,108.48. This represents a 27.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.

Cigna Group Trading Down 2.9% Cigna Group stock opened at $279.27 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.73. The company has a market capitalization of $73.88 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.11 and a beta of 0.29. Cigna Group has a one year low of $239.51 and a one year high of $315.47. The company’s fifty day moving average price is $286.62 and its two-hundred day moving average price is $281.10.

Cigna Group (NYSE:CI – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The health services provider reported $7.78 earnings per share for the quarter, topping analysts’ consensus estimates of $7.60 by $0.18. The company had revenue of $70.04 billion during the quarter, compared to analysts’ expectations of $70.14 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%.The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.20 earnings per share. Cigna Group has set its FY 2026 guidance at 30.450- EPS. On average, analysts forecast that Cigna Group will post 30.4 earnings per share for the current fiscal year.

Cigna Group Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 8th. Cigna Group’s payout ratio is 26.45%.

About Cigna Group (Free Report)

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.

See Also Five stocks we like better than Cigna Group Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case Apple’s Record Quarter Could Not Outrun Its Guidance Problem McKesson’s Compounding Keeps Adding Up Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI – Free Report).

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UnitedHealth Just Gave Wall Street a Clearer Turnaround SignalCigna Group NYSE: CI raised its full-year 2026 adjusted earnings outlook after reporting second-quarter results that management said exceeded expectations in both its Evernorth health services business and Cigna Healthcare insurance segment.

The company reported second-quarter total revenue of $71.7 billion, adjusted after-tax earnings of $2.1 billion and adjusted earnings per share of $7.78. Cigna also recorded after-tax special-item charges of $153 million, or $0.58 per share, during the quarter.

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The AI Boom Has a Second Act—And It's Playing Out in OpticsFor the full year, Cigna increased its adjusted earnings-per-share outlook to at least $30.45. CFO Ann Dennison said the guidance reflects strong first-half performance while retaining what she described as a “prudent view” of the operating environment.

Evernorth Specialty Strength Offsets Pharmacy Pressures Evernorth Health Services generated $61.5 billion in second-quarter revenue, up 6% from a year earlier, and $1.7 billion in pretax adjusted earnings. Its Specialty and Care Services unit produced $1.1 billion in pretax adjusted earnings, a 22% year-over-year increase that exceeded management’s expectations.

Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong MomentumDennison attributed the performance to continued specialty-drug utilization growth, quicker-than-anticipated adoption of biosimilars and specialty generics, operating efficiencies and income from Cigna’s investment in Shields Health Solutions. She said specialty-generic penetration for newer products exceeded 80% in the quarter.

The company said increased biosimilar and specialty-generic adoption improves affordability for clients and patients, but it also shifts earnings within Evernorth. Dennison said the dynamic boosts Specialty and Care Services while reducing contributions from Pharmacy Benefit Services, in part because lower drug costs affect revenue and the economics of the pharmacy-benefits business.

Pharmacy Benefit Services reported pretax adjusted earnings of $609 million, down from the prior year and broadly in line with expectations. Management cited the impact of previously discussed extensions and renewals of large client contracts, as well as investment spending tied to the transition to its rebate-free pharmacy-benefits model, Signature.

Cigna said it expects full-year Evernorth pretax adjusted earnings of at least $6.9 billion. While specialty generics and biosimilars should remain a meaningful tailwind, Dennison said the magnitude of the second-quarter benefit is not expected to recur at the same level in the third and fourth quarters.

Management also cited moderating GLP-1 prescription growth. Coverage levels declined slightly and utilization growth slowed from the elevated levels in earlier periods, a trend the company expects to continue through the rest of 2026. CEO Brian Evanko said the anticipated modest pressure from lower GLP-1 volumes in the second half is expected to effectively offset Evernorth’s second-quarter outperformance.

Cigna Healthcare Results Top Expectations Cigna Healthcare posted second-quarter revenue of $11.8 billion, up 10% year over year, and pretax adjusted earnings of $1.3 billion. The segment’s medical care ratio was 84.5%, slightly better than the company expected.

Management said the segment benefited from strong performance in its U.S. employer business and medical-cost trends that were slightly favorable to expectations. The company pointed to lower outpatient trends, including lower surgical spending, while noting that overall medical-cost trends remained elevated but stable at high-single-digit levels.

Cigna raised its full-year pretax adjusted earnings outlook for Cigna Healthcare to at least $4.55 billion. It expects more than 60% of second-half segment earnings to occur in the third quarter and expects the third-quarter medical care ratio to be slightly above the second-quarter level, consistent with historical seasonality.

Evanko said the company continues to see growth in medical membership in the employer market and cited disciplined pricing, care coordination and stop-loss margin recapture as contributors to performance. Dennison said stop-loss results tracked in line with expectations and were not a driver of second-quarter variance.

On independent dispute resolution, or IDR, claims, Evanko said Cigna supports consumer protections against surprise medical billing but sees “clear abuses” in the mechanism. He said the company views the impact as manageable within its Cigna Healthcare planning and pricing assumptions.

Signature Launch and Client Retention Cigna plans to introduce Signature to Cigna Healthcare’s fully insured plans in 2027 before a broader market rollout in 2028. The company said the model is designed around fee-based arrangements, price transparency and a “Price Assure” capability intended to provide customers with the lowest available out-of-pocket cost.

Evanko said Evernorth Pharmacy Benefit Services completed its 2026 selling season with retention above 97%, while preliminary indicators point to retention in the mid-90% range or higher for 2027. He said new business already secured for 2027 exceeds the prior two selling seasons combined.

Management said it is tracking in line with expected Signature-related investment levels for 2026 and expects similar spending in 2027, with investment levels expected to decline over time. Evanko said the company expects Signature margins ultimately to be in the 4% range, similar to margins from legacy pharmacy-benefit solutions.

Capital, AI and Portfolio Focus Cigna expects approximately $9 billion in operating cash flow for 2026, weighted toward the second half. The company repurchased about 900,000 shares for approximately $250 million in the second quarter. Its debt-to-capitalization ratio was 42.8% as of June 30, and management expects to end the year closer to its 40% target.

The company also highlighted artificial-intelligence initiatives in specialty pharmacy and care coordination. Evanko said its Pharmacy Forward program is expected to reduce average time to therapy by half and reduce clinician documentation time by up to 50%. Cigna also expanded AI-enabled care coordination intended to identify customers with emerging complex conditions earlier; management said the effort could extend support to 20% more customers.

Evanko said customers who engage in the company’s care-coordination programs reduce medical costs by approximately $2,000 annually on average, while early engagement has been associated with a 42% reduction in avoidable inpatient stays among participating customers.

Separately, Cigna plans to exit the ACA exchange business at the end of 2026. Management said the business is tracking in line with expectations for positive but below-target margins this year. Dennison said the exit may create some stranded overhead and produce only a modest capital release.

About Cigna Group (NYSE:CI)Cigna Group NYSE: CI is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Q2 Earnings And Revenue Beat ExpectationsThe health plan company reported second-quarter 2026 adjusted earnings of $7.78 per share, beating the consensus of $7.60 per share.

Adjusted revenue rose 7% to $71.558 billion, beating the consensus of $70.339 billion, primarily driven by Evernorth Health Services and Cigna Healthcare.

Customer Relationships Decline As Pharmacy Membership FallsTotal customer relationships decreased 3% from December 31, 2025 to 182.8 million.

Pharmacy customers decreased 4% from December 31, 2025 to 118.2 million, reflecting expected client transitions and lower membership from health plan clients.

Medical customers increased 2% from December 31, 2025 to 18.4 million, reflecting growth in Middle and Select markets, partially offset by lower membership in National Accounts.

Evernorth Health Services adjusted revenues increased 6% to $61.468 billion. Within Evernorth, Pharmacy Benefit Services revenue rose 8% to $34.496 billion, while Specialty and Care Services revenue increased 4% to $26.972 billion.

Specialty and Care sales were $26.972 billion, increased 4%, reflecting strong specialty volume growth.

Healthcare segment sales increased 9% to $11.728 billion, primarily reflecting premium rate increases to cover expected increases in medical costs.

Medical Care Ratio IncreasesMedical care ratio (MCR) was 84.5% for the second quarter of 2026, compared to 83.2% a year ago, primarily reflecting higher prior-year risk adjustment benefits within the Individual and Family Plans business recognized in the second quarter of 2025.

Ann Dennison, Cigna EVP and CFO, in an earnings conference call, said, “In the second quarter we observed moderating GLP-1 growth as coverage levels slightly declined and utilization growth trended down from elevated levels experienced in prior periods. We expect this trend to continue throughout the remainder of the year, and it is contemplated in our full-year outlook.”

“By harnessing technology, data and AI to deliver more personalized experiences, improve access and lower costs, we are creating greater value every day. Our strong second quarter results reflect continued progress against these priorities and demonstrate the effectiveness of our strategy and execution,” said Brian Evanko, President and CEO of Cigna Group.

2026 OutlookCigna expects fiscal 2026 adjusted earnings of at least $30.45 compared to the consensus of $30.41 and prior guidance of at least $30.35 per share. The company said the outlook reflects the strong first-half performance while maintaining a prudent view of the current environment.

Cigna Healthcare affirmed its Medical Care Ratio guidance to be between 83.7% and 84.7%.

CI Price Action: Cigna Group shares were down 2.05% at $290.39 at the time of publication on Thursday, according to Benzinga Pro data.

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Cigna (CI - Free Report) reported $71.56 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.6%. EPS of $7.78 for the same period compares to $7.20 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $71.43 billion, representing a surprise of +0.18%. The company delivered an EPS surprise of +2.64%, with the consensus EPS estimate being $7.58.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Cigna performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Medical Care Ratio - Cigna Healthcare: 84.5% compared to the 84.5% average estimate based on five analysts.Healthcare Medical Customers - Insured - U.S. Healthcare: 2.44 million versus 2.5 million estimated by four analysts on average.Covered Lives By Market Segment - Medical Customers - International Health: 1.74 million versus the four-analyst average estimate of 1.71 million.Healthcare Medical Customers - Administrative services only - U.S. Healthcare: 14.24 million compared to the 14.1 million average estimate based on four analysts.Revenues- Evernorth Health Services: $61.47 billion versus $61.57 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.Revenues- Cigna Healthcare: $11.84 billion compared to the $11.39 billion average estimate based on five analysts. The reported number represents a change of +9.6% year over year.Services (Fees)- Cigna Healthcare: $2.01 billion compared to the $1.74 billion average estimate based on four analysts. The reported number represents a change of +19.5% year over year.Revenue- Cigna Healthcare- Premiums- U.S. Healthcare - Individual and Family Plans: $860 million versus the four-analyst average estimate of $729.56 million. The reported number represents a year-over-year change of -8.6%.Revenue- Cigna Healthcare- Premium- International Health: $1.14 billion versus the four-analyst average estimate of $1.11 billion. The reported number represents a year-over-year change of +11.5%.Services (Fees)- Evernorth Health Services: $3.96 billion versus the four-analyst average estimate of $4.32 billion. The reported number represents a year-over-year change of +4.1%.Revenues- Evernorth Health Services- Net investment income: $19 million compared to the $37.14 million average estimate based on four analysts. The reported number represents a change of -38.7% year over year.Revenues- Evernorth Health Services- Pharmacy: $57.49 billion versus the four-analyst average estimate of $56.91 billion. The reported number represents a year-over-year change of +6.5%.View all Key Company Metrics for Cigna here>>>

Shares of Cigna have returned +7% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Total revenues for the second quarter 2026 increased 7% to $71.7 billion Shareholders' net income for the second quarter 2026 was $1.7 billion, or $6.29 per share Adjusted income from operations1 for the second quarter 2026 was $2.1 billion, or $7.78 per share 2026 outlook2 for adjusted income from operations1,2 increased to at least $30.45 per share2 , /PRNewswire/ -- Global health company The Cigna Group (NYSE: CI) today reported second quarter 2026 results, reflecting solid operational performance across its diversified portfolio of businesses.

"Our purpose is to improve the lives of each and every customer and patient we serve," said Brian C. Evanko, President and Chief Executive Officer of The Cigna Group. "By harnessing technology, data and AI to deliver more personalized experiences, improve access and lower costs, we are creating greater value every day. Our strong second quarter results reflect continued progress against these priorities and demonstrate the effectiveness of our strategy and execution."

Shareholders' net income for second quarter 2026 was $1.7 billion, or $6.29 per share compared to $1.5 billion, or $5.71 per share, for second quarter 2025, primarily reflecting growth in Cigna Healthcare.

The Cigna Group's adjusted income from operations1 for second quarter 2026 was $2.1 billion, or $7.78 per share, compared with $1.9 billion, or $7.20 per share, for second quarter 2025.

A reconciliation of shareholders' net income to adjusted income from operations1 is provided on the following page and on Exhibit 1 of this earnings release.

CONSOLIDATED HIGHLIGHTS

The following table includes highlights of results and reconciliations of total revenues to adjusted revenues3 and shareholders' net income to adjusted income from operations1:

Consolidated Financial Results (unaudited, dollars in millions):

Three Months Ended

Six Months
Ended

June 30,

March 31,

June 30,

2026

2025

2026

2026

Total Revenues

$       71,668

$       67,178

$       68,494

$     140,162

Net Investment Results from Equity Method Investments3

(110)

(44)

23

(87)

Adjusted Revenues3

$       71,558

$       67,134

$       68,517

$     140,075

Consolidated Earnings, net of taxes

Shareholders' Net Income

$         1,660

$         1,532

$         1,654

$         3,314

Net Investment (Gains)1

(55)

(103)

(233)

(288)

Amortization of Acquired Intangible Assets1

296

330

315

611

Special Items1

153

171

322

475

Adjusted Income from Operations1

$         2,054

$         1,930

$         2,058

$         4,112

Shareholders' Net Income, per share 

$          6.29

$          5.71

$          6.26

$         12.55

Adjusted Income from Operations1, per share 

$          7.78

$          7.20

$          7.79

$         15.58

Total revenues for second quarter 2026 increased 7% relative to second quarter 2025, driven by growth in both Evernorth Health Services and Cigna Healthcare. Adjusted income from operations1 for second quarter 2026 increased 6% relative to second quarter 2025, driven by higher contributions from Cigna Healthcare. The SG&A expense ratio4 and adjusted SG&A expense ratio4 were 4.8% and 4.6% for second quarter 2026, compared to 5.1% and 4.9%, respectively, in second quarter 2025, primarily reflecting operating efficiency. Year to date through July 29, 2026, the company repurchased 0.9 million shares of common stock for approximately $250 million. CUSTOMER RELATIONSHIPS

The following table summarizes The Cigna Group's medical customers and overall customer relationships:

Customer Relationships (in thousands):

As of the Periods Ended

June 30,

March 31,

December 31,

2026

2025

2026

2025

Total Pharmacy Customers

118,243

121,892

121,020

123,603

U.S. Healthcare

16,678

16,355

16,623

16,423

International Health

1,735

1,691

1,711

1,695

Total Medical Customers5

18,413

18,046

18,334

18,118

Behavioral Care

27,621

23,852

27,558

28,269

Dental

18,488

18,446

18,558

18,438

Total Customer Relationships

182,765

182,236

185,470

188,428

Total customer relationships at June 30, 2026 decreased 3% from December 31, 2025 to 182.8 million. Total pharmacy customers at June 30, 2026 decreased 4% from December 31, 2025 to 118.2 million, reflecting expected client transitions and lower membership from health plan clients. Total medical customers5 at June 30, 2026 increased 2% from December 31, 2025 to 18.4 million reflecting growth in Middle and Select markets, partially offset by lower membership in National Accounts. HIGHLIGHTS OF SEGMENT RESULTS

See Exhibit 1 for a reconciliation of adjusted income from operations1 to shareholders' net income. 

Evernorth Health Services

This segment includes the Pharmacy Benefit Services and Specialty and Care Services operating segments, which provide independent and coordinated health solutions and capabilities to enable the health care system to work better and help people live healthier lives.

Pharmacy Benefit Services drives high-quality, cost-effective pharmacy care through various services such as drug claim adjudication, retail pharmacy network administration, benefit design consultation, drug utilization review, drug formulary management and access to our home delivery pharmacy. Specialty and Care Services provides specialty drugs for the treatment of complex and rare diseases, specialty distribution of pharmaceuticals and medical supplies, as well as clinical programs to help our clients drive better whole-person health outcomes through care services.

Financial Results (dollars in millions):

Three Months Ended

Six Months
Ended

June 30,

March 31,

June 30,

2026

2025

2026

2026

Total Adjusted Revenues

   Pharmacy Benefit Services

$         34,496

$         31,954

$         33,002

$         67,498

   Specialty and Care Services

$         26,972

$         25,871

$         25,440

$         52,412

Adjusted Revenues3

$         61,468

$         57,825

$         58,442

$       119,910

Adjusted Income from Operations, Pre-Tax

Pharmacy Benefit Services

$              609

$              833

$              394

$           1,003

Specialty and Care Services

$           1,054

$              863

$           1,072

$           2,126

Adjusted Income from Operations, Pre-Tax1

$           1,663

$           1,696

$           1,466

$           3,129

Margin, Pre-Tax6

2.7 %

2.9 %

2.5 %

2.6 %

Evernorth Health Services second quarter 2026 adjusted revenues3 increased 6% and adjusted income from operations, pre-tax1, decreased 2%, relative to second quarter 2025. For Pharmacy Benefit Services second quarter 2026 relative to second quarter 2025: Adjusted revenues3 increased 8% primarily due to drug mix. Adjusted income from operations, pre-tax1, decreased 27%, primarily reflecting client-focused initiatives, including large client contract renewals, and customer-focused initiatives, consistent with prior commentary. For Specialty and Care Services second quarter 2026 relative to second quarter 2025: Adjusted revenues3 increased 4% reflecting strong specialty volume growth. Adjusted income from operations, pre-tax1, increased 22% primarily reflecting strong organic growth in specialty businesses, including higher generic and biosimilar adoption which benefits clients and patients by delivering lower costs, and operating efficiencies. Cigna Healthcare

This segment includes the U.S. Healthcare and International Health operating segments, which provide comprehensive medical and coordinated solutions to clients and customers. U.S. Healthcare provides medical plans and other benefits and solutions for insured and self-insured clients as well as individual and family plan customers. International Health provides health care solutions in our international markets, as well as health solutions for globally mobile individuals and employees of multinational organizations. In April 2026, the Company announced its planned exit from the Individual and Family Plans medical business as of January 1, 2027.

Financial Results (dollars in millions):

Three Months Ended

Six Months
Ended

June 30,

March 31,

June 30,

2026

2025

2026

2026

Adjusted Revenues3,7

$          11,728

$          10,754

$          11,477

$          23,205

Adjusted Income from Operations, Pre-Tax1

$            1,276

$            1,094

$            1,514

$            2,790

Margin, Pre-Tax6

10.9 %

10.2 %

13.2 %

12.0 %

Second quarter 2026 adjusted revenues3 increased 9% relative to second quarter 2025, primarily reflecting premium rate increases to cover expected increases in medical costs. Second quarter 2026 adjusted income from operations, pre-tax1, increased 17% relative to second quarter 2025, primarily due to an improved margin within our U.S. Employer business. The Cigna Healthcare MCR4 was 84.5% for second quarter 2026, compared to 83.2% for second quarter 2025, primarily reflecting higher prior year risk adjustment benefits within our Individual and Family Plans business recognized in second quarter 2025. Cigna Healthcare net medical costs payable8 was $5.09 billion at June 30, 2026, $4.78 billion at March 31, 2026, and $4.49 billion at June 30, 2025. The sequential increase reflects typical stop loss seasonality. Favorable prior year reserve development on a gross pre-tax basis was $268 million and $297 million for the six months ended June 30, 2026 and 2025, respectively. Corporate and Other Operations

Corporate reflects interest expense, amounts not allocated to operating segments and includes intersegment eliminations. Other Operations is comprised of Corporate Owned Life Insurance ("COLI"), the Company's run-off operations and other non-strategic businesses.

Financial Results (dollars in millions):

Three Months Ended

Six Months
Ended

June 30,

March 31,

June 30,

2026

2025

2026

2026

Adjusted (Loss) from Operations, Pre-Tax1

$            (389)

$            (357)

$            (377)

$            (766)

2026 OUTLOOK2

The Cigna Group's outlook for full year 2026 consolidated adjusted income from operations1,2 is at least $30.45 per share2. Additionally, this outlook includes the impact of expected future share repurchases and anticipated 2026 dividends.

(dollars in millions, except where noted and per share amounts)

 2026 Consolidated Metrics

Projection for Full Year Ending

December 31, 2026

Change from
Prior Projection

Adjusted Income from Operations, per share1,2

at least $30.45

+$0.10

Evernorth Adjusted Income from Operations, Pre-Tax1,2

at least $6,900

Cigna Healthcare Adjusted Income from Operations, Pre-Tax1,2

at least $4,550

+$25

Cigna Healthcare Medical Care Ratio2,4

83.7% to 84.7%

The foregoing statements represent the Company's current estimates of The Cigna Group's 2026 consolidated and segment adjusted income from operations1,2 and other key metrics as of the date of this release.  Actual results may differ materially depending on a number of factors.  Investors are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release.  Management does not assume any obligation to update these estimates.

This quarterly earnings release and the Quarterly Financial Supplement are available on The Cigna Group's website in the Investor Relations section (https://investors.thecignagroup.com/overview/default.aspx). Management will be hosting a conference call to review second quarter 2026 results and discuss full year 2026 outlook beginning today at 8:30 a.m. ET.  A link to the conference call is available in the Investor Relations section of The Cigna Group's website located at https://investors.thecignagroup.com/events-and-presentations/default.aspx. 

The call-in numbers for the conference call are as follows:

          Live Call
          (888) 566-1889   (Domestic)
          (773) 799-3989   (International)
          Passcode: 07302026

          Replay
          (866) 405-7290   (Domestic)
          (203) 369-0603   (International)

It is strongly suggested you dial in to the conference call by 8:15 a.m. ET.

About The Cigna Group

The Cigna Group (NYSE: CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products and services marketed under Evernorth Health Services, Cigna Healthcare, or its subsidiaries. The Cigna Group maintains sales capabilities in more than 30 markets and jurisdictions, and has over 180 million customer relationships around the world. Learn more at thecignagroup.com.

Notes:

1. Adjusted income (loss) from operations is a principal financial measure of profitability used by The Cigna Group's management because it presents the underlying results of operations of the Company's businesses and facilitates analysis of trends in underlying revenue, expenses and shareholders' net income. Adjusted income (loss) from operations is defined as shareholders' net income (or income before income taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding net investment gains/losses, amortization of acquired intangible assets and special items. The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of normal, recurring operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders' net income. See Exhibit 1 for a reconciliation of consolidated adjusted income from operations to shareholders' net income.

2. Management is not able to provide a reconciliation of adjusted income from operations to shareholders' net income, on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof including (i) future net investment results and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond The Cigna Group's control. As such, any associated estimate and its impact on shareholders' net income and total revenues could vary materially. 

The Company's outlook excludes the potential effects of any other business combinations that may occur after the date of this earnings release. The Company's outlook includes the potential effects of expected future share repurchases and anticipated 2026 dividends.

The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. The share repurchase program may be effected through open market purchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, including through Rule 10b5-1 trading plans, or privately negotiated transactions. The program may be suspended or discontinued at any time.

3. Adjusted revenues is used by The Cigna Group's management because it facilitates analysis of trends in underlying revenue. The Company defines adjusted revenues as total revenues excluding the following adjustments: special items and The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management believes are not representative of the underlying results of normal, recurring operations due to their nature or size. We exclude these items from this measure because management believes they are not indicative of past or future underlying performance of the business. Adjusted revenues is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, total revenues. See Exhibit 1 for a reconciliation of consolidated adjusted revenues to total revenues.

4. Operating ratios are defined as follows:

The Cigna Healthcare medical care ratio ("MCR") represents medical costs as a percentage of premiums for all Cigna Healthcare risk products provided through guaranteed cost or experience-rated funding arrangements. Changes in percentages may be expressed in basis points ("bps"). SG&A expense ratio on a GAAP basis for the second quarter 2026 represents enterprise selling, general and administrative expenses of $3,470 million as a percentage of total revenue of $71.7 billion at a consolidated level. SG&A expense ratio on a GAAP basis for the second quarter 2025 represents enterprise selling, general and administrative expenses of $3,433 million as a percentage of total revenue of $67.2 billion at a consolidated level. Adjusted SG&A expense ratio for the second quarter 2026 represents enterprise selling, general and administrative expenses of $3,290 million excluding special items of $180 million as a percentage of adjusted revenue at a consolidated level. Adjusted SG&A expense ratio for the second quarter 2025 represents enterprise selling, general and administrative expenses of $3,271 million excluding special items of $162 million as a percentage of adjusted revenue at a consolidated level. 5. Customer relationships are defined as follows:

Total medical customers includes individuals who meet any one of the following criteria: (i) are covered under a medical insurance policy, managed care arrangement, or administrative services agreement issued by Cigna Healthcare; (ii) have access to Cigna Healthcare's provider network for covered services under their medical plan; or (iii) have medical claims that are administered by Cigna Healthcare. 6. Margin, pre-tax, is calculated by dividing adjusted income (loss) from operations, pre-tax by adjusted revenues for each segment.

7. The Cigna Group owns noncontrolling interests in certain operating joint ventures. As such, the adjusted revenues for the Cigna Healthcare segment only include the Company's share of the joint ventures' earnings reported in Fees and Other Revenues using the equity method of accounting under GAAP.

8. Medical costs payable within the Cigna Healthcare segment are presented net of reinsurance and other recoverables. The gross medical costs payable balance was $5.23 billion as of June 30, 2026, $4.92 billion as of March 31, 2026, and $4.64 billion as of June 30, 2025.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release, and oral statements made in connection with this release, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on The Cigna Group's current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning our projected outlook for 2026 (including adjusted revenues; adjusted income from operations, including on a per share, and segment basis; adjusted SG&A expense ratio; adjusted effective tax rate; cash flow from operations; capital expenditures; shareholder dividends; weighted average shares outstanding; medical care ratio; and total medical customers); future financial or operating performance, including our ability to improve the health and vitality of those we serve; future growth, business strategy and strategic or operational initiatives, including our ability to successfully implement actions across our business to strengthen our platform and build a more sustainable model for healthcare; economic, regulatory or competitive environments; capital deployment plans and amounts available for future deployment; our prospects for growth in the coming years; and other statements regarding The Cigna Group's future beliefs, expectations, plans, intentions, liquidity, cash flows, financial condition or performance. You may identify forward-looking statements by the use of words such as "believe," "expect," "project," "plan," "intend," "anticipate," "estimate," "predict," "potential," "may," "should," "will" or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.

Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: our ability to manage health care costs and respond to price competition, inflation and other pressures that could compress our margins or result in premiums that are insufficient to cover the cost of services delivered to our customers; our ability to compete effectively, differentiate our products and services from those of our competitors and adapt to changes in an evolving and rapidly changing industry; our ability to develop and effectively implement products and services to improve the accessibility, affordability and transparency of health care; changes in drug pricing or industry pricing benchmarks; our ability to maintain relationships with one or more key pharmaceutical manufacturers or if payments made or discounts provided decline; changes in the pharmacy provider marketplace or pharmacy networks; the potential for actual claims to exceed our estimates related to expected medical claims; our ability to develop and maintain satisfactory relationships with health care payors, physicians, hospitals, other health service providers and with producers and consultants; potential liability in connection with managing medical practices and operating pharmacies, onsite clinics and other types of medical facilities; uncertainties surrounding participation in government-sponsored programs and providing services to payors who participate in government-sponsored programs; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; compliance with applicable privacy, security and data laws, regulations and standards; the outcome of litigation, regulatory audits and investigations; compliance costs and potential failure of our prevention, detection and control systems; our ability to invest in and properly maintain our information technology and other business systems; our ability to prevent or contain effects of a potential cyberattack or other privacy or data security incident; risks related to our use of artificial intelligence and machine learning; dependence on success of relationships with third parties; risk of significant disruption within our operations or among key suppliers or third parties; political, legal, operational, regulatory, economic and other risks that could affect our multinational operations, including currency exchange rates; risks related to strategic transactions and realization of the expected benefits of such transactions, as well as integration or separation difficulties or underperformance relative to expectations which could lead to an impairment charge; our ability to achieve our strategic and operational initiatives; unfavorable economic and market conditions, the risk of a recession or other economic downturn and resulting impact on employment metrics, stock market or changes in interest rates; risks related to a downgrade in financial strength ratings of our insurance subsidiaries; the impact of our significant indebtedness and the potential for further indebtedness in the future; credit risk related to our reinsurers; as well as more specific risks and uncertainties discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available through the Investor Relations section of www.thecignagroup.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. The Cigna Group undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.

THE CIGNA GROUP

Exhibit 1

COMPARATIVE SUMMARY OF FINANCIAL RESULTS (unaudited)

Three Months Ended

Six Months Ended

Three Months
Ended

June 30,

June 30,

March 31,

(Dollars in millions, except per share amounts)

2026

2025

2026

2025

2026

REVENUES

Pharmacy revenues

$ 57,172

$ 53,649

$        111,209

$        102,282

$ 54,037

Premiums

9,859

9,156

19,671

21,892

9,812

Fees and other revenues

4,365

4,137

8,808

8,032

4,443

Net investment income

272

236

474

474

202

Total revenues

71,668

67,178

140,162

132,680

68,494

Net investment results from certain equity method investments

(110)

(44)

(87)

(94)

23

Adjusted revenues (1)

$ 71,558

$ 67,134

$        140,075

$        132,586

$ 68,517

Shareholders' net income

$  1,660

$  1,532

$  3,314

$  2,855

$  1,654

Pre-tax adjusted income (loss) from operations by segment

Evernorth Health Services

$  1,663

$  1,696

$  3,129

$  3,130

$  1,466

Cigna Healthcare

1,276

1,094

2,790

2,381

1,514

Corporate and Other Operations

(389)

(357)

(766)

(768)

(377)

   Adjusted income tax expense 

(496)

(503)

(1,041)

(973)

(545)

Consolidated after-tax adjusted income from operations

$  2,054

$  1,930

$  4,112

$  3,770

$  2,058

Weighted average shares (in thousands)

263,962

268,154

263,990

270,540

264,017

Common shares outstanding (in thousands)

264,154

266,901

264,498

SHAREHOLDERS' EQUITY at June 30,

$ 42,620

$ 40,214

SHAREHOLDERS' EQUITY PER SHARE at June 30,

$ 161.35

$ 150.67

Three Months Ended

Six Months Ended

Three Months
Ended

June 30,

June 30,

March 31,

2026

2025

2026

2025

2026

(Dollars in millions, except per share amounts)

Pre-tax

After-tax

Pre-tax

After-tax

Pre-tax

After-tax

Pre-tax

After-tax

Pre-tax

After-tax

SHAREHOLDERS' NET INCOME

Shareholders' net income

$  1,660

$  1,532

$  3,314

$  2,855

$  1,654

Adjustments to reconcile to adjusted income from operations

Net investment (gains) (2)

$  (41)

(55)

$  (96)

(103)

$ (276)

(288)

$ (144)

(151)

$ (235)

(233)

Amortization of acquired intangible assets

389

296

422

330

779

611

844

666

390

315

Special Items

 Strategic optimization program

70

53

129

98

450

343

344

261

380

290

 Integration and transaction-related costs

34

26

74

56

69

53

290

220

35

27

 Charges (benefits) associated with litigation matters

77

60

—

—

66

52

—

—

(11)

(8)

 Deferred tax expenses, net

—

17

—

17

—

33

—

34

—

16

 (Gain) on sale of businesses

(6)

(3)

—

—

(6)

(6)

(41)

(115)

—

(3)

Adjusted income from operations (3)

$  2,054

$  1,930

$  4,112

$  3,770

$  2,058

DILUTED EARNINGS PER SHARE

Shareholders' net income

$   6.29

$   5.71

$  12.55

$  10.55

$   6.26

Adjustments to reconcile to adjusted income from operations

Net investment (gains) (2)

$ (0.16)

(0.21)

$ (0.36)

(0.38)

$ (1.05)

(1.09)

$ (0.53)

(0.56)

$ (0.89)

(0.88)

Amortization of acquired intangible assets

1.48

1.12

1.57

1.23

2.96

2.32

3.12

2.47

1.48

1.19

Special Items

 Strategic optimization program

0.27

0.20

0.48

0.37

1.70

1.29

1.27

0.97

1.44

1.10

 Integration and transaction-related costs

0.13

0.10

0.28

0.21

0.26

0.20

1.07

0.81

0.13

0.10

 Charges (benefits) associated with litigation matters

0.28

0.23

—

—

0.25

0.20

—

—

(0.04)

(0.03)

 Deferred tax expenses, net

—

0.06

—

0.06

—

0.13

—

0.13

—

0.06

 (Gain) on sale of businesses

(0.02)

(0.01)

—

—

(0.02)

(0.02)

(0.15)

(0.43)

—

(0.01)

Adjusted income from operations (3)

$   7.78

$   7.20

$  15.58

$  13.94

$   7.79

(1)

Adjusted revenues is defined as total revenues excluding the following adjustments: special items and The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. These items are excluded because they are not indicative of past or future underlying performance of our businesses.

(2)

Includes Net investment gains/losses as presented in our Consolidated Statements of Income, as well as the Company's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting, which are presented within Fees and other revenues in our Consolidated Statements of Income.

(3)

Adjusted income (loss) from operations is defined as shareholders' net income (or income before income taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding the following adjustments: net investment gains/losses, amortization of acquired intangible assets and special items. The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded.

INVESTOR RELATIONS CONTACT:
Ralph Giacobbe
860-787-7968
[email protected] 

MEDIA CONTACT:
Justine Sessions
860-810-6523
[email protected] 

SOURCE The Cigna Group