Martin Taylor’s Crake Asset Management Portfolio: Top 5 Stock Picks

4. Cigna Corporation (NYSE:CI)

Percentage of Crake Asset Management’s 13F Portfolio: 9.55%

Number of Hedge Fund Holders: 63 

Cigna Corporation (NYSE:CI) is a Connecticut-based managed healthcare and health insurance company that enables businesses, governments, unions, and associations to offer medical, dental, disability, life, and accident insurance to individuals. 

Martin Taylor, via Crake Asset Management, owns 875,025 shares in Cigna Corporation (NYSE:CI).

Cigna Corporation (NYSE:CI) posted its Q3 earnings on November 4. EPS for the quarter equaled $5.73, beating estimates by $0.52. The revenue was up 8.6% year-over-year at $44.31 billion. 

Seaport Global analyst Joseph France on November 16 initiated coverage of Cigna Corporation (NYSE:CI) with a Buy rating and $270 price target. The analyst expects the company’s strategic investments to increase earnings growth, reduce earnings volatility, and raise the stock valuation.

Here is what Artisan Value Fund has to say about Cigna Corporation (NYSE:CI) in their Q4 2020 investor letter:

“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.”