Billionaire Lee Cooperman’s 5 Large-Cap Stock Picks

4. Cigna Corporation (NYSE:CI)

Number of Hedge Fund Holders: 63

Cigna Corporation (NYSE:CI) is a Connecticut-based firm that provides insurance and related services. It is placed fourth on our list of 10 large-cap stock picks of billionaire Lee Cooperman. According to securities filings, Omega Advisors owned 425,000 shares in the company at the end of June 2021 worth $100 million, representing 5.65% of the portfolio. 

On September 27, investment advisory SVB Leerink initiated coverage of Cigna Corporation (NYSE:CI) stock with a Market Perform rating and a price target of $220. Whit Mayo, an analyst at the firm, issued the ratings update. 

Out of 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 1.2 million shares worth more than $304 million. 

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.”