Is Cigna Corporation (CI) a Safe Investment During Macroeconomic Uncertainty?

Aristotle Atlantic Partners, LLC, an investment advisor, released its “Core Equity Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund posted a return of -4.92% gross of fees compared to -4.88% return for the S&P 500 Index. The fund’s underperformance in the quarter was primarily because of the stock selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Atlantic highlighted stocks like Cigna Corporation (NYSE:CI) in the Q3 2022 investor letter. Headquartered in Bloomfield, Connecticut, Cigna Corporation (NYSE:CI) is a US-based insurance company. On November 23, 2022, Cigna Corporation (NYSE:CI) stock closed at $319.84 per share. One-month return of Cigna Corporation (NYSE:CI) was 1.55%, and its shares gained 51.89% of their value over the last 52 weeks. Cigna Corporation (NYSE:CI) has a market capitalization of $97.788 billion.

Aristotle Atlantic made the following comment about Cigna Corporation (NYSE:CI) in its Q3 2022 investor letter:

“Cigna Corporation (NYSE:CI) outperformed the S&P 500 Index in the third quarter, as the company reported what we view as solid second quarter results driven by a better-than-expected medical loss ratio. The company continues to be aggressive with share repurchases and we believe the defensive nature of Cigna’s business continues to be attractive during the ongoing macroeconomic uncertainty.”

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Cigna Corporation (NYSE:CI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 76 hedge fund portfolios held Cigna Corporation (NYSE:CI) at the end of the third quarter, which was 66 in the previous quarter.

We discussed Cigna Corporation (NYSE:CI) in another article and discussed the best stocks that are on the rise. In addition, please check out our hedge fund investor letters Q3 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.