5 Best Insurance Stocks To Buy Now

3. Cigna Corporation (NYSE:CI)

Number of Hedge Fund Holders: 58 

Cigna Corporation (NYSE:CI) provides insurance and related products. Wall Street is bullish on the future prospects of the stock. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Glenview Capital is a leading shareholder in Cigna Corporation (NYSE:CI), with 1.3 million shares worth more than $264 million. 

Cigna Corporation (NYSE:CI) stock has gained in the past few weeks on the back of reports that Medicare rates are expected to rise in 2023. The proposed rates call for an 8% increase in private Medicare plans. 

In its Q4 2020 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Cigna Corporation (NYSE:CI) was one of them. Here is what the fund said:

“New purchases include Cigna. Cigna is a leading managed care company which operates through the following major segments: health services, integrated medical, international markets and group disability. It’s one of the few managed care organizations in the United States with the scale and size to compete effectively. Cigna has recently focused on deleveraging its balance sheet and further diversifying its business, after completing the Express Scripts acquisition in late 2018. Additionally, the company has partnered with Amazon, which will offer two new pharmacy options—including a self-pay offering. Cigna will administer the self-pay option through its health services division Evernorth. The partnership should be one of many strong earnings drivers for Cigna, which we believe is currently trading at an attractive valuation.”