Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cigna Group shares valued at $922,152 were sold by DeLaney William J III on Aug 19 ’24. At $342.68 per share, DeLaney William J III sold 2,691 shares. The insider’s holdings dropped to 17,539 shares worth approximately $5.97 million following the completion of this transaction.
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Also, DeLaney William J III purchased 2,691 shares, netting a total of over 922,152 in proceeds.
Before that, Jones Nicole S had sold 22,030 shares from its account. In a trade valued at $7,291,049, the insider traded Cigna Group shares for $330.96 each. Upon closing the transaction, the insider’s holdings decreased to 22,030 shares, worth approximately $8.37 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 -1.28%. Over the course of the year, Cigna Group shares have jumped approximately 13.73%. Shares of the company reached a 52-week high of $370.83 on 09/16/24 and a 52-week low of $291.44 on 01/25/24. A 50-day SMA is recorded $348.15, while a 200-day SMA reached $337.71. Nevertheless, trading volume fell to 1.14 million shares from 1.63 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 337.93, which, if violated, would cause prices to drop to 335.30. In the upper region, resistance lies at 342.74. The next price resistance is at 344.93. RSI (Relative Strength Index) is 37.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.12, which suggests the price will decrease in the coming days. Percent R is at 90.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
