Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cigna Group shares valued at $3,728,629 were sold by Eder Noelle K on May 14 ’24. At $348.47 per share, Eder Noelle K sold 10,700 shares. The insider’s holdings dropped to 15,824 shares worth approximately $5.35 million following the completion of this transaction.
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Also, Agoglia Hoeltzel Mary T sold 5,946 shares, netting a total of over 2,073,449 in proceeds. Following the sale of shares at $348.71 each, the insider now holds 2,595 shares.
Before that, Cordani David had sold 31,209 shares from its account. In a trade valued at $11,084,357, the Chairman & CEO traded Cigna Group shares for $355.17 each. Upon closing the transaction, the insider’s holdings decreased to 31,209 shares, worth approximately $117.58 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 -0.42%. Over the course of the year, Cigna Group shares have jumped approximately 12.82%. 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 $351.13, while a 200-day SMA reached $313.26. Nevertheless, trading volume fell to 1.51 million shares from 0.97 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 335.73, which, if violated, would cause prices to drop to 333.63. In the upper region, resistance lies at 339.68. The next price resistance is at 341.53. RSI (Relative Strength Index) is 38.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.73, which suggests the price will decrease in the coming days. Percent R is at 71.70%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
