THE CIGNA GROUP CI
COM · Common Stock · CUSIP 125523100 · ISIN US1255231003
American health services organization
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($236.5m this quarter). Holder counts are more reliable. Shares outstanding: 273.7m as of 2025-01-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $276.01. Options: 43 managers hold calls ($1.1bn notional), 44 hold puts ($946.2m).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,472 |
| Q4 2022 | 1,548 |
| Q1 2023 | 1,485 |
| Q2 2023 | 1,487 |
| Q3 2023 | 1,489 |
| Q4 2023 | 1,622 |
| Q1 2024 | 1,656 |
| Q2 2024 | 1,659 |
| Q3 2024 | 1,701 |
| Q4 2024 | 1,640 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 597 | 781 |
| Q2 2023 | 663 | 642 |
| Q3 2023 | 601 | 662 |
| Q4 2023 | 654 | 684 |
| Q1 2024 | 706 | 743 |
| Q2 2024 | 737 | 680 |
| Q3 2024 | 738 | 691 |
| Q4 2024 | 616 | 872 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $1.4bn | $1.3bn | 0.93 |
| Q2 2024 | $1.1bn | $782.1m | 0.68 |
| Q3 2024 | $1.2bn | $937.1m | 0.78 |
| Q4 2024 | $1.1bn | $946.2m | 0.89 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | New | +2.6m |
| GQG Partners LLC | Added | +737.1k |
| TWO SIGMA ADVISERS, LP | Added | +600.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +514.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +501.3k |
| TAM Capital Management Inc. | New | +465.7k |
| Amundi | Added | +374.9k |
| NORTHERN TRUST CORP | Added | +328.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +326.6k |
| Swedbank AB | Added | +314.1k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -2.4m |
| FMR LLC | Reduced | -1.8m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.1m |
| Boston Partners | Reduced | -1.1m |
| BlackRock, Inc. | Reduced | -751.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -656.0k |
| FIL Ltd | Reduced | -623.4k |
| Caisse de depot et placement du Quebec | Reduced | -485.9k |
| MORGAN STANLEY | Reduced | -441.6k |
| JENNISON ASSOCIATES LLC | Reduced | -430.1k |
Biggest calls
| BloombergSen Inc. | Unchanged | $315.9m1.1m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $153.8m556.8k shares |
| Squarepoint Ops LLC | Added | $104.0m376.8k shares |
| CITADEL ADVISORS LLC | Added | $93.9m340.0k shares |
| WOLVERINE TRADING, LLC | Reduced | $84.0m305.2k shares |
| IMC-Chicago, LLC | Added | $39.3m142.2k shares |
| JANE STREET GROUP, LLC | Added | $37.9m137.1k shares |
| SIMPLEX TRADING, LLC | Added | $32.1m116.1k shares |
| BANK OF AMERICA CORP /DE/ | Added | $27.8m100.8k shares |
| JPMORGAN CHASE & CO | Added | $27.2m98.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $144.9m524.7k shares |
| CITADEL ADVISORS LLC | Added | $96.6m350.0k shares |
| WOLVERINE TRADING, LLC | Added | $82.7m300.7k shares |
| BANK OF AMERICA CORP /DE/ | Added | $72.0m260.8k shares |
| IMC-Chicago, LLC | Added | $55.1m199.4k shares |
| Parallax Volatility Advisers, L.P. | Added | $45.4m164.5k shares |
| JPMORGAN CHASE & CO | Reduced | $39.4m142.7k shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $37.6m1.4k shares |
| HSBC HOLDINGS PLC | Added | $36.9m134.2k shares |
| PEAK6 LLC | First filing | $36.3m131.3k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| BlackRock, Inc. 13G · institution filed 2025-04-24 | 7.4% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 7 | $10.5m | — |
| Q2 2023 | 0 | — | 1 | $191.7k | $191.7k |
| Q3 2023 | 0 | — | 6 | $11.9m | $8.4m |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 5 | $55.9m | $50.0m |
| Q2 2024 | 0 | — | 4 | $8.0m | $5.9m |
| Q3 2024 | 0 | — | 3 | $10.5m | $10.5m |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.13% of their portfolio | 26.1m $7.2bn | Added +17.7k |
| BlackRock, Inc. 0.13% of their portfolio | 23.9m $6.6bn | Reduced -751.7k |
| STATE STREET CORP 0.14% of their portfolio | 12.7m $3.5bn | Reduced -105.7k |
| FMR LLC 0.21% of their portfolio | 12.5m $3.4bn | Reduced -1.8m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 1.01% of their portfolio | 11.6m $3.2bn | Added +501.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.35% of their portfolio | 11.0m $3.0bn | Reduced -1.1m |
| Dodge & Cox 1.41% of their portfolio | 8.8m $2.4bn | Reduced -16.8k |
| Sanders Capital, LLC 3.25% of their portfolio | 8.1m $2.2bn | Added +154.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.13% of their portfolio | 6.0m $1.6bn | Added +101.7k |
| JPMORGAN CHASE & CO 0.11% of their portfolio | 5.1m $1.4bn | Reduced -2.4m |
| GQG Partners LLC 1.65% of their portfolio | 4.0m $1.1bn | Added +737.1k |
| MORGAN STANLEY 0.07% of their portfolio | 3.9m $1.1bn | Reduced -441.6k |
| NORGES BANK 0.11% of their portfolio | 3.1m $867.8m | Added +87.0k |
| NORTHERN TRUST CORP 0.12% of their portfolio | 3.1m $867.1m | Added +328.3k |
| BANK OF AMERICA CORP /DE/ 0.07% of their portfolio | 2.9m $809.6m | Reduced -45.3k |
| FRANKLIN RESOURCES INC 0.23% of their portfolio | 2.9m $808.3m | Added +286.5k |
| PARNASSUS INVESTMENTS, LLC 1.72% of their portfolio | 2.8m $772.9m | Reduced -123.1k |
| T. Rowe Price Investment Management, Inc. 0.45% of their portfolio | 2.6m $724.5m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.16% of their portfolio | 2.5m $689.1m | Added +326.6k |
| DIMENSIONAL FUND ADVISORS LP 0.16% of their portfolio | 2.5m $676.7m | Added +18.1k |
| Nuveen Asset Management, LLC 0.19% of their portfolio | 2.4m $672.8m | Reduced -95.1k |
| Amundi 0.22% of their portfolio | 2.3m $628.6m | Added +374.9k |
| Legal & General Group Plc 0.15% of their portfolio | 2.0m $549.6m | Reduced -104.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.10% of their portfolio | 2.0m $546.1m | Added +64.1k |
| NORDEA INVESTMENT MANAGEMENT AB 0.56% of their portfolio | 1.9m $536.9m | Reduced -9.2k |
| Bank of New York Mellon Corp 0.10% of their portfolio | 1.9m $529.1m | Reduced -274.8k |
| AMERIPRISE FINANCIAL INC 0.13% of their portfolio | 1.9m $510.9m | Reduced -228.1k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.39% of their portfolio | 1.7m $481.6m | Reduced -656.0k |
| Invesco Ltd. 0.08% of their portfolio | 1.5m $425.3m | Reduced -112.2k |
| DEUTSCHE BANK AG\ 0.16% of their portfolio | 1.5m $411.7m | Added +188.4k |
| Grantham, Mayo, Van Otterloo & Co. LLC 1.33% of their portfolio | 1.5m $408.3m | Added +55.8k |
| Davis Selected Advisers 2.30% of their portfolio | 1.4m $395.4m | Reduced -8.1k |
| Capital World Investors 0.05% of their portfolio | 1.2m $341.9m | Added +30.9k |
| GOLDMAN SACHS GROUP INC 0.07% of their portfolio | 1.2m $339.2m | Reduced -93.9k |
| MACQUARIE GROUP LTD 0.38% of their portfolio | 1.2m $315.4m | Reduced -133.1k |
| RAYMOND JAMES FINANCIAL INC 0.12% of their portfolio | 1.1m $313.9m | First filing |
| AQR CAPITAL MANAGEMENT LLC 0.35% of their portfolio | 996.3k $275.1m | Reduced -418.0k |
| UBS Group AG 0.06% of their portfolio | 959.4k $264.9m | Added +229.2k |
| Swedbank AB 0.30% of their portfolio | 884.4k $244.2m | Added +314.1k |
| TWO SIGMA ADVISERS, LP 0.52% of their portfolio | 816.2k $225.4m | Added +600.3k |
| HSBC HOLDINGS PLC 0.14% of their portfolio | 810.2k $223.4m | Added +137.4k |
| LYRICAL ASSET MANAGEMENT LP 3.30% of their portfolio | 807.6k $223.0m | Added +3.2k |
| California Public Employees Retirement System 0.15% of their portfolio | 791.1k $218.5m | Reduced -36.8k |
| Swiss National Bank 0.15% of their portfolio | 789.7k $218.1m | Reduced -53.4k |
| Russell Investments Group, Ltd. 0.30% of their portfolio | 786.6k $217.2m | Added +76.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.15% of their portfolio | 780.3k $215.5m | Reduced -3.7k |
| ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio | 770.3k $212.7m | Reduced -291.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.18% of their portfolio | 769.0k $212.4m | Added +39.8k |
| TWO SIGMA INVESTMENTS, LP 0.49% of their portfolio | 764.9k $211.2m | Added +188.2k |
| Qube Research & Technologies Ltd 0.32% of their portfolio | 707.9k $195.5m | Added +304.8k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.64% of their portfolio | 692.0k $191.1m | Added +1.2k |
| Boston Partners 0.22% of their portfolio | 643.3k $177.8m | Reduced -1.1m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.63% of their portfolio | 643.3k $177.6m | Added +514.8k |
| GLENVIEW CAPITAL MANAGEMENT, LLC 4.42% of their portfolio | 632.4k $174.6m | Reduced -419.3k |
| National Pension Service 0.16% of their portfolio | 628.9k $173.7m | Added +9.8k |
| BRANDES INVESTMENT PARTNERS, LP 1.92% of their portfolio | 623.5k $172.2m | Added +105.4k |
| WELLS FARGO & COMPANY/MN 0.04% of their portfolio | 607.3k $167.7m | Added +3.2k |
| Ruffer LLP 5.99% of their portfolio | 601.1k $166.0m | Added +10.3k |
| LSV ASSET MANAGEMENT 0.38% of their portfolio | 598.7k $165.3m | Reduced -26.8k |
| Focused Investors LLC 5.12% of their portfolio | 587.5k $162.2m | Added +47.5k |
| NEUBERGER BERMAN GROUP LLC 0.13% of their portfolio | 587.4k $162.2m | Reduced -21.8k |
| RHUMBLINE ADVISERS 0.14% of their portfolio | 581.5k $160.6m | Reduced -7.4k |
| Bridgewater Associates, LP 0.73% of their portfolio | 579.5k $160.0m | Added +255.6k |
| KBC Group NV 0.42% of their portfolio | 550.6k $152.1m | Added +8.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.15% of their portfolio | 544.3k $150.3m | Added +48.9k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 534.8k $147.7m | Reduced -123.3k |
| PRUDENTIAL FINANCIAL INC 0.20% of their portfolio | 529.1k $146.1m | Added +66.2k |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 513.4k $141.8m | Reduced -105.1k |
| Maj Invest Holding A/S 4.58% of their portfolio | 503.9k $139.2m | Added +7.0k |
| Assenagon Asset Management S.A. 0.25% of their portfolio | 497.9k $137.5m | Added +202.2k |
| BARCLAYS PLC 0.07% of their portfolio | 493.2k $136.2m | Reduced -160.9k |
| PZENA INVESTMENT MANAGEMENT LLC 0.46% of their portfolio | 491.5k $135.7m | Reduced -50.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.20% of their portfolio | 491.5k $135.7m | Added +265.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.18% of their portfolio | 487.9k $134.7m | Reduced -6.1k |
| TAM Capital Management Inc. 47.94% of their portfolio | 465.7k $128.6m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.15% of their portfolio | 450.6k $124.4m | Reduced -14.3k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.12% of their portfolio | 442.5k $124.2m | Added +30.7k |
| PANAGORA ASSET MANAGEMENT INC 0.55% of their portfolio | 430.7k $118.9m | Reduced -104.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.11% of their portfolio | 423.1k $116.8m | Added +169.0k |
| Ensign Peak Advisors, Inc 0.20% of their portfolio | 400.9k $110.7m | Added +59.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.09% of their portfolio | 400.6k $110.6m | Reduced -55.1k |
| CANADA LIFE ASSURANCE Co 0.19% of their portfolio | 391.3k $108.0m | Reduced -41.2k |
| Artisan Partners Limited Partnership 0.16% of their portfolio | 384.5k $106.2m | Added +32 |
| JENNISON ASSOCIATES LLC 0.06% of their portfolio | 383.5k $105.9m | Reduced -430.1k |
| Allianz Asset Management GmbH 0.15% of their portfolio | 369.0k $101.9m | Added +4.4k |
| NATIXIS ADVISORS, LLC 0.18% of their portfolio | 358.0k $98.8m | Reduced -2.9k |
| LAKEWOOD CAPITAL MANAGEMENT, LP 9.21% of their portfolio | 355.1k $98.1m | Added +52.8k |
| Aberdeen Group plc 0.18% of their portfolio | 353.0k $96.9m | Reduced -31.3k |
| Squarepoint Ops LLC 0.25% of their portfolio | 352.2k $97.3m | Added +239.9k |
| MACKENZIE FINANCIAL CORP 0.04% of their portfolio | 351.0k $96.3m | Added +232.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio | 347.0k $95.8m | Added +76.0k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 343.5k $94.9m | Added +121.1k |
| SEI INVESTMENTS CO 0.12% of their portfolio | 341.6k $94.3m | Reduced -15.1k |
| Pictet Asset Management Holding SA 0.10% of their portfolio | 334.7k $92.4m | Added +79.2k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.09% of their portfolio | 329.8k $91.1m | Reduced -84.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.05% of their portfolio | 319.9k $88.3m | Reduced -4.0k |
| PNC Financial Services Group, Inc. 0.06% of their portfolio | 318.0k $87.8m | Reduced -44.3k |
| Mitsubishi UFJ Trust & Banking Corp 0.20% of their portfolio | 312.1k $86.2m | Reduced -13.7k |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 299.3k $82.7m | Reduced -18.1k |
| CITIGROUP INC 0.08% of their portfolio | 299.1k $82.6m | Added +74.2k |