Billionaire Lee Cooperman’s Favorite Stocks Heading Into 2021

4. Cigna Corporation (NYSE:CI)

The health insurance provider Cigna Corporation (NYSE: CI) is the fourth largest stock holding of Omega Advisors family office portfolio. Although Omega sold 22% of the stake in the latest quarter, the health insurance provider still accounts for 7.08% of the overall portfolio.

Hedge funds are less optimistic about Cigna’s performance. The number of bullish hedge fund bets retreated by 10 in recent months. Cigna Corporation was in 62 hedge funds’ portfolios at the end of September relative to an all-time high of 76.

Meanwhile, Avenir Capital looks bullish on the future fundamentals of the healthcare insurance company. Here is what Avenir Capital stated about Cigna in a shareholder letter:

“While we generally don’t comment on current quarter events in these letters, given the timing and significance of the U.S. election, it is, perhaps, worth pointing out that Cigna’s share price jumped 15% the day after the election. We think the probability of dramatically unfavourable policy outcomes is low and prefer to hold this proven compounder through the volatility.”