Citizens Financial Group Inc. RI Has $2.32 Million Holdings in CVS Health Co. (NYSE:CVS)

Citizens Financial Group Inc. RI increased its stake in shares of CVS Health Co. (NYSE:CVS) by 20.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 39,261 shares of the pharmacy operator’s stock after acquiring an additional 6,670 shares during the period. Citizens Financial Group Inc. RI’s holdings in CVS Health were worth $2,319,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Capital International Investors raised its position in shares of CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. Pzena Investment Management LLC raised its holdings in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Capital World Investors lifted its position in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after acquiring an additional 2,297,100 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.7 %

Shares of CVS opened at $58.37 on Tuesday. The company has a market capitalization of $73.28 billion, a P/E ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The business’s 50 day simple moving average is $58.31 and its 200-day simple moving average is $62.88. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVS. Wells Fargo & Company boosted their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Monday. Evercore ISI dropped their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays reduced their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.10.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.