Top 5 Stocks in Larry Robbins’ Portfolio

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1. Cigna Group (NYSE:CI)

Number of Hedge Fund Holders:79
Percentage of Glenview Capital’s Portfolio:10.37%

Cigna Group (NYSE:CI) is one company that provides insurance and other related products and services in the US. It also offers coordinated and point-solution health services, including pharmacy benefits, care delivery, and management solutions to health plans.

While the stock is down by about 10% for the year, it has started bouncing back, rallying by more than 11% since June lows. Based on 6 buy ratings, 7 hold ratings and 0 sell ratings, Cigna Group (NYSE:CI) has a consensus rating of ‘Moderate Buy.’

Securities filings reveal that Glenview Capital increased its stake in Cigna Group (NYSE:CI) by 1% during the first quarter of 2023. The fund presently owns 1.85 million shares of Cigna Group (NYSE:CI) worth over $472.89 million, representing 10.37% of the portfolio.

The number of hedge funds tracked by Insider Monkey having stakes in Cigna Group (NYSE:CI) grew to 79 in Q1 2023, from 76 in the preceding quarter. Citadel Investment Group is the leading shareholder of Cigna Group (NYSE:CI), with 2.04 million shares worth over $520.40 million.

ClearBridge Investments mentioned The Cigna Group (NYSE:CI) in its investor letter for the first quarter of 2023, stating the following:

“At the same time, we exited health insurance company The Cigna Group (NYSE:CI), whose strong outperformance over the last year has resulted in shares trading at a significant premium relative to competitor CVS Health. Additionally, we view CVS Health’s underperformance as driven by temporary issues and believe it has a good likelihood of succeeding in its improvement initiatives following upgrades to the management team and its acquisition of Oak Street Health. As a result, we elected to swap our position in Cigna into CVS Health to capitalize on the valuation gap while maintaining similar exposure within the sector.”

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