The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cigna Group shares valued at $1,654,303 were sold by Evanko Brian C on Jun 24 ’24. At $345.01 per share, Evanko Brian C sold 4,795 shares. The insider’s holdings dropped to 39,923 shares worth approximately $13.34 million following the completion of this transaction.
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Also, Granger Elder sold 547 shares, netting a total of over 181,265 in proceeds. Following the sale of shares at $331.38 each, the insider now holds 5,471 shares.
Before that, Granger Elder had sold 1,000 shares from its account. In a trade valued at $338,080, the Director traded Cigna Group shares for $338.08 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $1.83 million.
As published in their initiating research note from Piper Sandler on June 26, 2024, Cigna Group [CI] has been an Overweight and the price target has been revised to $400. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of March 06, 2024, Barclays has initiated its “an Overweight” rating for CI. Earlier on February 05, 2024, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for CI stock which previously was a “a Sector perform”.
Analyzing CI Stock Performance
During the last five days, there has been a drop of approximately -1.10%. Over the course of the year, Cigna Group shares have jumped approximately 11.59%. 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 $342.22, while a 200-day SMA reached $319.54. Nevertheless, trading volume fell to 1.3 million shares from 1.49 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 331.39, which, if violated, would cause prices to drop to 328.62. In the upper region, resistance lies at 336.93. The next price resistance is at 339.71. RSI (Relative Strength Index) is 43.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 68.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
