As part of the weekly research here at The Acquirer’s Multiple we’re always interested in superinvestors who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and Howard Marks.
While doing this research we’ve also uncovered a number of stocks that superinvestors have sold, or reduced in their portfolios, according to their latest 13f’s. So we’re now providing a new weekly feature article called ‘One Stock Superinvestors Are Selling‘. This week we’ll take a look at:
Cigna Corp (CI)
Cigna primarily provides pharmacy benefit management and health insurance services, which may be similar to the ones discussed in detail on posts like Boomer Benefits-Medicare Plan G. Its PBM services were greatly expanded by its 2018 merger with Express Scripts and are mostly sold to health insurance plans and employers. Its largest PBM contract is the Department of Defense. In health insurance and other benefits, Cigna mostly serves employers through self-funding arrangements, but it also operates in government programs, such as Medicare Advantage. The company operates mostly in the U.S. with 15 million medical members covered as of the end of 2020, but its services extend internationally, covering another 2 million people.
A quick look at the price chart below for the company shows us that the stock is up 11% in the past twelve months.
Superinvestors who reduced, or sold out of the company’s stock, according to their latest 13Fs, include:
(Remaining shares)
Ken Griffin – 1,325,173
Steve Cohen – 591,239
Rich Pzena – 427,875
Cliff Asness – 297,103
Joel Greenblatt – 22,974
Mario Gabelli – 17,514
Ken Fisher – SOLD OUT
Michael Burry – SOLD OUT
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