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 $7,291,049 were sold by Jones Nicole S on Aug 12 ’24. At $330.96 per share, Jones Nicole S sold 22,030 shares. The insider’s holdings dropped to 24,587 shares worth approximately $8.28 million following the completion of this transaction.
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Also, Triplett Michael W sold 6,819 shares, netting a total of over 2,249,851 in proceeds. Following the sale of shares at $329.94 each, the insider now holds 32,833 shares.
Before that, Jones Nicole S had added 22,030 shares to its account. In a trade valued at $7,291,049, the Officer bought Cigna Group shares for $330.96 each.
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 surge of approximately 0.50%. Over the course of the year, Cigna Group shares have jumped approximately 12.44%. 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 $335.30, while a 200-day SMA reached $326.42. Nevertheless, trading volume fell to 0.98 million shares from 0.62 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 333.74, which, if violated, would cause prices to drop to 330.77. In the upper region, resistance lies at 338.83. The next price resistance is at 340.95. RSI (Relative Strength Index) is 51.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.33, which suggests the price will decrease in the coming days. Percent R is at 55.15%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
