Conning Inc. Sells 59,575 Shares of CVS Health Co. (NYSE:CVS)

Conning Inc. reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 475,262 shares of the pharmacy operator's stock after selling 59,575 shares during the period. CVS Health accounts for about 1.3% of Conning Inc.'s investment portfolio, making the stock its 13th biggest holding. Conning Inc.'s holdings in CVS Health were worth $37,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bryn Mawr Capital Management LLC boosted its position in shares of CVS Health by 74.0% during the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator's stock worth $3,017,000 after buying an additional 18,385 shares during the period. Value Partners Investments Inc. boosted its position in shares of CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator's stock worth $69,261,000 after buying an additional 207,702 shares during the period. Sonora Investment Management Group LLC raised its holdings in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator's stock worth $3,525,000 after purchasing an additional 774 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in CVS Health by 2.3% during the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator's stock worth $726,000 after purchasing an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator's stock worth $1,351,000 after purchasing an additional 491 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 1.6 %

NYSE:CVS traded down $1.10 during trading hours on Friday, reaching $68.64. The company's stock had a trading volume of 7,691,021 shares, compared to its average volume of 9,022,009. The company has a market cap of $86.52 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The business's 50-day moving average is $75.85 and its 200-day moving average is $73.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 EPS. Equities research analysts predict that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 19th. CVS Health's dividend payout ratio is currently 41.18%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVS shares. Cantor Fitzgerald reissued an "overweight" rating and set a $87.00 target price on shares of CVS Health in a report on Wednesday. SVB Leerink started coverage on CVS Health in a report on Monday, February 26th. They set an "outperform" rating and a $88.00 target price on the stock. Wells Fargo & Company dropped their target price on CVS Health from $83.00 to $76.00 and set an "equal weight" rating on the stock in a report on Monday, April 8th. Leerink Partnrs reaffirmed an "outperform" rating on shares of CVS Health in a report on Monday, February 26th. Finally, Piper Sandler upped their price target on CVS Health from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $89.44.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company's stock, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

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.