5 Best Finance Stocks to Buy Right Now According to Leon Cooperman

2. Cigna Corp (NYSE:CI)

Leon Cooperman owns 425,000 shares of Cigna Corp (NYSE:CI) as of September 30. Cigna represented the billionaire money manager’s largest holding at the end of June, but he sold off 120,000 CI shares during Q3, dropping it to fourth overall. Cooperman has held the stock in his 13F portfolio since the third quarter of 2018.

Cooperman referenced the healthcare insurer during a November CNBC interview, noting that while the S&P 500 is trading at sky-high multiples, there are still good deals to be found out there in the 4x-8x earnings range, pointing to Cigna as one such company that has a good story. Cigna currently trades at a forward P/E of about 9.5x.

In its Q3 investor letter, Avenir Capital noted that Cigna was underperforming ahead of the U.S Presidential election, as healthcare stocks traditionally do, over concerns that a Biden win coupled with the Democrats winning the senate could result in unfavorable policy changes. While Biden won the Presidency, the Republicans retained control of the senate, sending CI shares up by 15% following the election.