Cigna Corporation [CI] stock for 2,418,198 USD was sold by Triplett Michael W

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cigna Corporation shares valued at $2,418,198 were sold by Triplett Michael W on Sep 12. At $292.76 per share, Triplett Michael W sold 8,260 shares. The insider’s holdings dropped to 25,091 shares worth approximately $7.15 million following the completion of this transaction.

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Also, Sanford Paul A sold 374 shares, netting a total of over 106,590 in proceeds. Following the sale of shares at $285.00 each, the insider now holds 9,121 shares.

Before that, Agoglia Hoeltzel Mary T had sold 7,044 shares from its account. In a trade valued at $2,020,860, the SVP Tax & Chief Acct. Officer traded Cigna Corporation shares for $286.89 each. Upon closing the transaction, the insider’s holdings decreased to 7,044 shares, worth approximately $2.42 million.

As published in a research note from Jefferies on July 14, 2022, Cigna Corporation [CI] has been rated down from a Buy to a Hold and the price target has been revised to $271 from $330. This represents a -5.15% premium over Wednesday’s closing price. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in late June. As of June 17, 2022, Loop Capital has initiated its “Hold” rating for CI.

Analyzing CI’s Price Performance

On Wednesday, Cigna Corporation [NYSE: CI] plunged -1.09% to $284.95. The stock’s lowest price that day was $284.88, but it reached a high of $294.28 in the same session. During the last five days, there has been a surge of approximately 0.31%. Over the course of the year, Cigna Corporation shares have jumped approximately 24.09%. Shares of the company reached a 52-week high of $296.29 on 09/12/22 and a 52-week low of $213.16 on 02/04/22. A 50-day SMA is recorded $282.72, while a 200-day SMA reached $253.59. Nevertheless, trading volume fell to 1.79 million shares from 1.77 million shares the previous day.

Support And Resistance Levels for Cigna Corporation (CI)

According to the 24-hour chart, there is a support level at 281.79, which, if violated, would cause prices to drop to 278.64. In the upper region, resistance lies at 291.19. The next price resistance is at 297.44. RSI (Relative Strength Index) is 47.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.28, which suggests the price will decrease in the coming days. Percent R is at 77.35%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Cigna Corporation subject to short interest?

Stocks of Cigna Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 4.3 million shares to 7.89 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.59 million shares. A jump of 54.5% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.52 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.52.

Which companies own the most shares of Cigna Corporation (CI)?

According to The Vanguard Group, Inc. filings, the company currently owns 24,686,576 shares, which is about 8.09% of the total CI shares outstanding. The investor’s shares have plunged by -14,166 from its previous 13-F filing of 24700742.0 shares. With the completion of the sale transaction, Dodge & Cox’s stake is now worth $4,720,660,485. T. Rowe Price Associates, Inc. reduced a -10.53% interest valued at $4.46 billion while SSgA Funds Management, Inc. sold a -359,973 stake. A total of -213,962 shares of Cigna Corporation were sold by BlackRock Fund Advisors during the quarter, and -220,931 were sold by Massachusetts Financial Services. In its current portfolio, Capital Research & Management Co holds 10,428,958 shares valued at $2.96 billion.

In terms of Cigna Corporation share price expectations, FactSet research, analysts set an average price target of $311.74 in the next 12 months, up nearly 10.73% from the previous closing price of $288.08. Analysts anticipate Cigna Corporation stock to reach $340.00 by 2022, with the lowest price target being $230.00. In spite of this, 25 analysts ranked Cigna Corporation stock as an Overweight at the end of 2022. On May 26, 2022, BofA Securities assigned a price target of “a Neutral” to the stock and upgraded coverage with a $300.


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