---
title: Cigna (CI) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/ci
ticker: CI
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Healthcare Plans
---
# Cigna (CI)

Cigna (CI) closed at $302.30 on Oct 16, 2026, overvalued by 3% vs its model value of $293.28 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $302.30 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $293.28 |
| Price vs model | overvalued by 3% vs model |
| Range of that model | $100.04 – $795.04 |
| Market value | $79.9B |
| P/E (fiscal 2025) | 13.6 |
| Net margin (fiscal 2025) | 2.2% |
| Free cash flow (fiscal 2025) | — |
| Dividend yield (trailing twelve months) | 2.05% |
| Beta | 0.30 |
| Cost of capital (WACC) | 6.39% |
| Business classification | Dividend Payer (Moderate growth (~19% recent), Thin margins (2.2% net margin), Pays dividends, Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Highest free cash flow yield | #25 | 10.6% | https://sweetvaluelab.com/lists/highest-free-cash-flow-yield |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 2.05% |
| Dividends per share, last 12 months | $6.19 |
| Coverage | — |
| Raised | 5 years in a row |
| Growth over 5 years | 15.3% a year |
| Latest payment | $1.56, ex-date Sep 8, 2026, paid Sep 23, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 7, 2021 | $3.04 |
| To Sep 6, 2022 | $4.36 |
| To Sep 5, 2023 | $4.81 |
| To Sep 4, 2024 | $5.43 |
| To Sep 4, 2025 | $5.93 |
| Trailing twelve months (to Sep 8, 2026) | $6.19 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $293.28 | $100.04 | $795.04 |
| DCF · Perpetuity growth · 10y | cross check | $564.01 | $252.29 | $1,413.62 |
| DCF · EBITDA exit · 5y | cross check | $1,200.96 | $816.50 | $1,654.76 |
| DCF · EBITDA exit · 10y | cross check | $1,308.04 | $828.15 | $1,952.64 |
| P/E · peers | cross check | $591.45 | $391.58 | $1,458.07 |
| P/E · own history | cross check | $443.64 | $344.15 | $537.41 |
| PEG | sanity check | $550.34 | $550.34 | $550.34 |
| EV/EBITDA · peers | cross check | $637.01 | $533.85 | $751.09 |
| EV/Revenue · peers | cross check | $352.05 | $210.58 | $538.94 |
| Earnings power value | cross check | $607.38 | $475.02 | $820.98 |
| Dividend discount | cross check | $220.57 | $141.32 | $385.59 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 3 open-market sales ($6.3M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 3, 2026 | Neville Everett | See Remarks | Open-market sell (10b5-1 plan) | 617 | $175,258.9 |
| Sep 1, 2026 | Evanko Brian C | See Remarks | Grant / award | 3,113 | $0 |
| Sep 1, 2026 | Evanko Brian C | See Remarks | Grant / award | 6,716 | $0 |
| Aug 31, 2026 | Kurian George | Director | Grant / award | 108.664 | $30,000 |
| Jul 9, 2026 | Holgerson Bryan | See Remarks | Grant / award | 0.887 | $258.9 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 9, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/1739940/000114036126039271/ef20083475_8k.htm |
| Sep 30, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1739940/000114036126038056/ef20082869_8k.htm |
| Jul 30, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1739940/000173994026000065/ci-20260630.htm |
| Jul 30, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1739940/000114036126030135/ef20078875_8k.htm |
| May 13, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/1739940/000114036126020906/ef20073186_8k.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Dodge & Cox | 2026-06-30 | 12,173,875 | $3.4B |
| Christopher Davis | 2026-06-30 | 2,253,424 | $621.2M |
| Richard Pzena | 2026-06-30 | 562,036 | $154.9M |
| Leon Cooperman | 2026-06-30 | 325,000 | $89.6M |

8 tracked managers in all.

## About

Cigna Group, established in 1792 and headquartered in Bloomfield, Connecticut, provides insurance products and related services across the United States. The company operates through two primary segments. Its Evernorth division offers a comprehensive array of coordinated and specialized health solutions, including pharmacy services, benefits administration, care management and delivery, and advanced intelligence solutions. These offerings cater to a diverse clientele, such as health plans, employers, government entities, and healthcare providers. Meanwhile, the Cigna Healthcare segment delivers an extensive portfolio of products and services, encompassing medical, pharmaceutical, behavioral health, dental, vision, and health advocacy programs for both insured and self-insured customers. This segment also provides Medicare Advantage, Medicare Supplement, and Medicare Part D plans specific…

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Source: https://sweetvaluelab.com/stocks/ci (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.