Securian Asset Management Inc. Has $4.26 Million Position in CVS Health Co. (NYSE:CVS)

Securian Asset Management Inc. lessened its holdings in CVS Health Co. (NYSE:CVS) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,184 shares of the pharmacy operator’s stock after selling 1,937 shares during the period. Securian Asset Management Inc.’s holdings in CVS Health were worth $4,263,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverpoint Wealth Management Holdings LLC acquired a new position in CVS Health in the fourth quarter worth about $218,000. Canoe Financial LP boosted its stake in CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after acquiring an additional 859,134 shares during the last quarter. Meritage Portfolio Management boosted its stake in CVS Health by 30.6% in the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock valued at $5,237,000 after acquiring an additional 15,548 shares during the last quarter. Steph & Co. boosted its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Forum Financial Management LP boosted its stake in CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS traded down $1.17 during trading hours on Monday, hitting $55.94. The company’s stock had a trading volume of 4,450,623 shares, compared to its average volume of 11,500,823. The company has a market cap of $70.23 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The business has a 50 day simple moving average of $59.45 and a two-hundred day simple moving average of $66.14. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share. On average, equities analysts expect that CVS Health Co. will post 7 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.76%. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVS. Robert W. Baird began coverage on shares of CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Mizuho cut their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. SVB Leerink reiterated a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $73.24.

CVS Health Company 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.