Canal Insurance CO Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Canal Insurance CO increased its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 15.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 230,000 shares of the pharmacy operator's stock after acquiring an additional 30,000 shares during the period. CVS Health makes up about 2.7% of Canal Insurance CO's portfolio, making the stock its 13th largest holding. Canal Insurance CO's holdings in CVS Health were worth $10,325,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in CVS Health in the 3rd quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the 3rd quarter valued at approximately $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 2.2 %

Shares of CVS stock traded up $1.25 on Tuesday, reaching $57.45. 14,018,429 shares of the stock were exchanged, compared to its average volume of 13,772,261. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The business's 50 day moving average price is $51.24 and its 200 day moving average price is $56.19. The company has a market capitalization of $72.29 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.80 and a beta of 0.59. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 earnings per share. As a group, sell-side analysts expect that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.63%. CVS Health's dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVS. StockNews.com lowered shares of CVS Health from a "hold" rating to a "sell" rating in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, November 15th. Piper Sandler reduced their price target on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a research report on Monday, November 25th. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and a consensus price target of $68.12.

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.