Top 5 Health Insurance Stocks to Buy

3. Cigna Corporation (NYSE:CI)

Number of Hedge Fund Holders: 66  

Cigna Corporation (NYSE:CI) provides insurance and related products and services in the United States. It is one of the elite insurance stocks to invest in. On September 28, Cigna Corp said that it has launched a suite of products, including Cigna Pathwell, to connect customers with quality care providers and lower costs for customers. Pathwell uses clinical expertise, digital solutions, treatment planning, and analytics to integrate with the company’s medical benefits management to create a personalized care experience for patients.

On August 8, investment advisory UBS maintained a Buy rating on Cigna Corporation (NYSE:CI) stock and raised the price target on Cigna to $330 from $310. Analyst Kevin Caliendo issued the ratings update. 

At the end of the second quarter of 2022, 66 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in Cigna Corporation (NYSE:CI), compared to 63 in the preceding quarter worth $2.7 billion. 

In its Q2 2022 investor letter, Aristotle Capital Management, LLC , an asset management firm, highlighted a few stocks and Cigna Corporation (NYSE:CI) was one of them. Here is what the fund said:

“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.”