CVS Health Co. (NYSE:CVS) Holdings Lowered by AIA Group Ltd

AIA Group Ltd cut its stake in CVS Health Co. (NYSE:CVS) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,137 shares of the pharmacy operator’s stock after selling 9,053 shares during the period. AIA Group Ltd’s holdings in CVS Health were worth $1,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Partners in Financial Planning acquired a new stake in shares of CVS Health in the fourth quarter valued at $265,000. Clearbridge Investments LLC lifted its holdings in CVS Health by 74.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,397,121 shares of the pharmacy operator’s stock valued at $197,387,000 after acquiring an additional 1,872,144 shares during the last quarter. Brandywine Global Investment Management LLC boosted its position in shares of CVS Health by 29.6% during the 4th quarter. Brandywine Global Investment Management LLC now owns 2,848,986 shares of the pharmacy operator’s stock valued at $127,891,000 after purchasing an additional 650,832 shares in the last quarter. Allianz SE bought a new stake in shares of CVS Health in the 4th quarter worth approximately $3,648,000. Finally, Allstate Corp acquired a new stake in CVS Health during the fourth quarter valued at approximately $1,680,000. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CVS. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Truist Financial upped their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. UBS Group dropped their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company raised their target price on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Price Performance

NYSE CVS opened at $67.79 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $85.46 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $79.98. The company has a 50 day moving average price of $62.42 and a two-hundred day moving average price of $57.76.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.92%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

CVS Health Profile

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.