Allianz SE Takes Position in CVS Health Co. (NYSE:CVS)

Allianz SE acquired a new stake in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 83,011 shares of the pharmacy operator’s stock, valued at approximately $3,648,000.

A number of other large investors have also added to or reduced their stakes in CVS. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in CVS Health in the fourth quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the 3rd quarter worth approximately $31,000. Finally, Financial Perspectives Inc lifted its position in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several recent analyst reports. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Evercore ISI raised their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.39.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value 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. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

NYSE CVS opened at $67.13 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $79.98. The stock has a market cap of $84.64 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.98 and a beta of 0.54. The company’s 50 day moving average is $62.12 and its two-hundred day moving average is $57.67.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 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, research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s payout ratio is 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.