Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

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Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

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The information under the caption "Quarterly Financial Data – Stock and Dividend Data" appears on page 129 of this Form 10-K. As of December 31, 2018, the number of shareholders of record was 38,262. Cigna's common stock is listed with, and trades on, the New York Stock Exchange under the symbol "CI".

Issuer Purchases of Equity Securities

The following table provides information about Cigna's share repurchase activity for the quarter ended December 31, 2018:


Period	Total # of shares purchased (1)	Average price paid per share	Total # of shares purchased as part of publicly announced program (2)	Approximate dollar value of shares that may yet be purchased as part of publicly announced program (3)

October 1-31, 2018	408	$213.81	—	$2,723,207,261
November 1-30, 2018	2,399	$217.59	—	$2,723,207,261
December 1-31, 2018	568,958	$183.94	288,644	$946,464,758

Total	571,765	$183.04	288,644	N/A

(1)

Represents shares tendered by employees under the Company's equity compensation plans as follows: 1) payment of taxes on vesting of restricted stock and strategic performance shares and 2) payment of the exercise price and taxes for certain stock options exercised. Employees tendered 408 shares in October, 2,399 shares in November and 280,314 shares in December 2018.

(2)

Additionally, the Company maintains a share repurchase program, authorized by the Board of Directors. Under this program, the Company may repurchase shares from time to time, depending on market conditions and alternate uses of capital. 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 Rule 10b5-1 plans, open market purchases or privately negotiated transactions, each in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The program may be suspended or discontinued at any time. In 2018, the Company repurchased approximately 1.6 million shares for $330 million. On December 20, 2018, in connection with the merger with Express Scripts, the remaining authority of approximately $2.7 billion expired. The Board re-authorized $1 billion of share repurchase at that time. Remaining authorization under the program was approximately $950 million as of December 31, 2018. From January 1, 2019 through February 27, 2019, the Company repurchased 1.9 million shares for approximately $356 million, leaving the remaining repurchase authority at $590 million as of February 27, 2019.

(3)

Approximate dollar value of shares is as of the last date of the applicable month.

		CIGNA CORPORATION - 2018 Form 10-K 39

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**PART II **ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Five Year Cumulative Total Shareholder Return December 31, 2013 – December 31, 2018*


	12/31/2013		12/31/2014		12/31/2015		12/31/2016		12/31/2017		12/31/2018

Cigna	$	100	$	118	$	167	$	153	$	232	$	217

S&P 500	$	100	$	114	$	115	$	129	$	157	$	150

S&P Managed Health Care, Life & Health Ins. Indexes**	$	100	$	126	$	146	$	176	$	245	$	260

Assumes that the value of the investment in Cigna common stock and each index was $100 on December 31, 2013 and that all dividends were reinvested.

Weighted average of S&P Managed Health Care (75%) and Life and Health Insurance (25%) Indexes.

40 CIGNA CORPORATION - 2018 Form 10-K

**PART II **ITEM 6. Selected Financial Data

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