Cigna Investments Inc. New decreased its stake in shares of CBS Corporation (NYSE:CBS) by 8.2% during the second quarter, Holdings Channel reports. The firm owned 14,190 shares of the media conglomerate’s stock after selling 1,263 shares during the period. Cigna Investments Inc. New’s holdings in CBS Corporation were worth $908,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Glenview Capital Management LLC increased its position in shares of CBS Corporation by 6.7% in the first quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock valued at $379,535,000 after buying an additional 343,424 shares during the period. Alliancebernstein L.P. increased its position in shares of CBS Corporation by 7.1% in the first quarter. Alliancebernstein L.P. now owns 5,393,198 shares of the media conglomerate’s stock valued at $374,072,000 after buying an additional 358,785 shares during the period. Geode Capital Management LLC increased its position in shares of CBS Corporation by 3.1% in the first quarter. Geode Capital Management LLC now owns 3,680,166 shares of the media conglomerate’s stock valued at $254,889,000 after buying an additional 109,782 shares during the period. FMR LLC increased its position in shares of CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock valued at $244,860,000 after buying an additional 618,593 shares during the period. Finally, Boston Partners increased its position in shares of CBS Corporation by 3.0% in the first quarter. Boston Partners now owns 3,242,746 shares of the media conglomerate’s stock valued at $224,917,000 after buying an additional 94,956 shares during the period. 75.42% of the stock is owned by hedge funds and other institutional investors.

Shares of CBS Corporation (CBS) opened at 66.71 on Friday. The stock’s 50 day moving average is $64.79 and its 200-day moving average is $64.96. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The stock has a market cap of $26.79 billion, a PE ratio of 169.75 and a beta of 1.71.

CBS Corporation (NYSE:CBS) last posted its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. CBS Corporation’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. Equities analysts expect that CBS Corporation will post $4.46 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s dividend payout ratio is presently 211.76%.

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CBS has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research note on Wednesday, June 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research note on Friday, April 14th. Royal Bank Of Canada set a $75.00 price objective on shares of CBS Corporation and gave the company a “buy” rating in a research note on Tuesday, June 6th. BidaskClub raised shares of CBS Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Guggenheim reissued a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a research note on Friday, April 14th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CBS Corporation currently has an average rating of “Buy” and a consensus target price of $72.94.

In other CBS Corporation news, CEO Leslie Moonves sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the sale, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.96, for a total transaction of $538,695.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,874 shares of company stock worth $14,499,946. 1.67% of the stock is owned by insiders.

CBS Corporation Company Profile

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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Institutional Ownership by Quarter for CBS Corporation (NYSE:CBS)

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