5 Beaten Down Stocks Billionaires Are Crazy About

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1. Cigna Corporation (NYSE:CI)

Number of Billionaire Holders: 19

Based in Bloomfield, Connecticut, Cigna Corporation (NYSE:CI) is a global health company with primary businesses including Evernorth Health Service – a pharmacy, care and benefits solutions provider; and Cigna Healthcare – a health benefits provider serving customers and clients across United States as well as internationally.

On November 2, Cigna Corporation (NYSE:CI) released its financial results for Q3 2023. Its revenue increased by 8% y-o-y to $49 billion while net income shrunk by 49% y-o-y to $1.4 billion. The normalized EPS of the company, at $6.77, surpassed consensus estimates by $0.09.

Following the earnings release, RBC Capital analyst Ben Hendrix raised the price target for Cigna Corporation (NYSE:CI) shares from $300 to $327 and maintained a ‘Sector Perform’ rating for the shares.

As of Q3 2023, Cigna Corporation (NYSE:CI) shares were held by 74 out of 910 hedge funds tracked by Insider Monkey with a total value of $2.8 billion. The stock counted 19 billionaires among its shareholders, with ownership of $1.3 billion worth of its shares.

You may also like to read 12 Dow Stocks Billionaires Like The Least and 12 Dow Stocks Billionaires Like The Most.

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