Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cigna Group shares valued at $11,084,357 were sold by Cordani David on Mar 25 ’24. At $355.17 per share, Cordani David sold 31,209 shares. The insider’s holdings dropped to 348,054 shares worth approximately $122.89 million following the completion of this transaction.
Also, Cordani David sold 6,338 shares, netting a total of over 2,250,682 in proceeds. Following the sale of shares at $355.11 each, the insider now holds 348,054 shares.
Before that, Cordani David had sold 2,293 shares from its account. In a trade valued at $814,052, the Chairman & CEO traded Cigna Group shares for $355.02 each. Upon closing the transaction, the insider’s holdings decreased to 2,293 shares, worth approximately $122.89 million.
As published in their initiating research note from Barclays on March 06, 2024, Cigna Group [CI] has been an Overweight and the price target has been revised to $393. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in early February. As of February 05, 2024, Cantor Fitzgerald has increased its “Neutral” rating to a “an Overweight” for CI. Earlier on February 01, 2024, Deutsche Bank upgraded its rating. Their new recommendation was “a Buy” for CI stock which previously was a “a Hold”.
Analyzing CI Stock Performance
During the last five days, there has been a drop of approximately -2.02%. Over the course of the year, Cigna Group shares have jumped approximately 17.91%. Shares of the company reached a 52-week high of $365.71 on 03/28/24 and a 52-week low of $291.44 on 01/25/24. A 50-day SMA is recorded $344.05, while a 200-day SMA reached $304.01. Nevertheless, trading volume fell to 1.08 million shares from 1.01 million shares the previous day.
Support And Resistance Levels for Cigna Group (CI)
According to the 24-hour chart, there is a support level at 351.04, which, if violated, would cause prices to drop to 349.00. In the upper region, resistance lies at 356.73. The next price resistance is at 360.38. RSI (Relative Strength Index) is 50.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.08, which suggests the price will decrease in the coming days. Percent R is at 87.80%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Cigna Group subject to short interest?
Stocks of Cigna Group saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.48 million shares to 5.78 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.26 million shares. A decline of -25.61% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.35 of the overall float, the days-to-cover ratio (short ratio) decline to 3.35.
