Top 5 Life Insurance Companies In The World

2. Cigna Corporation (NYSE:CI)

Number of Hedge Fund Holders: 66

Cigna Corporation (NYSE:CI) is a leading global health services company with operations in over 30 countries. The company offers a broad range of health insurance and related products and services, including medical, dental, life, disability, and stop-loss insurance, as well as pharmacy benefit management and other health services. As of October 28, Cigna Corporation (NYSE:CI) has a market value of $99 billion and is offering a forward dividend yield of 1.38% to shareholders. The company has free cash flows of $8.4 billion and is ranked high among the top life insurance companies in the world.

This August, Credit Suisse analyst A.J. Rice raised his price target on Cigna Corporation (NYSE:CI) to $329 from $315 and maintained an Outperform rating on the shares. On August 8, UBS analyst Kevin Caliendo raised his price target on Cigna Corporation (NYSE:CI) to $330 from $310 and reiterated a Buy rating on the shares.

At the close of Q2 2022, Insider Monkey spotted Cigna Corporation (NYSE:CI) on 66 hedge fund portfolios. These funds disclosed stakes of $3.19 billion in the company. This is compared to 63 positions in the preceding quarter with stakes worth $2.69 billion in the company. The hedge fund sentiment for the stock is positive. As of June 30, Glenview Capital is the top shareholder in Cigna Corporation (NYSE:CI) and has disclosed a stake of $547 million in the company.

Here is what Aristotle Capital had to say about Cigna Corporation (NYSE:CI) in its second-quarter 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.”