Is Cigna Corporation (CI) a Safe Stock to Invest in Now?

Aristotle Capital Management, LLC, an investment management company, released its “Aristotle Core Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -17.49% at NAV, underperforming the S&P 500 Index, which returned -16.10%. The underperformance of the fund was attributed to the stock selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Capital discussed stocks like Cigna Corporation (NYSE:CI) in the second quarter 2022 investor letter. Headquartered in Bloomfield, Connecticut, Cigna Corporation (NYSE:CI) is an insurance company. On October 7, 2022, Cigna Corporation (NYSE:CI) stock closed at $288.38 per share. One-month return of Cigna Corporation (NYSE:CI) was -1.96% and its shares gained 41.41% of their value over the last 52 weeks. Cigna Corporation (NYSE:CI) has a market capitalization of $87.989 billion.

Here is what Aristotle Capital specifically said about Cigna Corporation (NYSE:CI) in its Q2 2022 investor letter:

“Cigna Corporation (NYSE:CI) contributed to performance in the second quarter, outpacing the benchmark Health Care sector return. We believe Cigna benefited from investors seeking relative “safety” in the managed care sector and the stock’s attractive valuation at just over 10 times next year’s earnings. During the quarter, Cigna reported an earnings beat due to a better-than-expected medical loss ratio.”

Cigna Corporation (NYSE:CI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held Cigna Corporation (NYSE:CI) at the end of the second quarter which was 63 in the previous quarter.

We discussed Cigna Corporation (NYSE:CI) in another article and shared the list of the best stocks to invest in according to Jonathan Bloomberg’s BloombergSen. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.