Cigna Investments Inc. New Reduces Position in The Home Depot, Inc. (NYSE:HD)

Cigna Investments Inc. New trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,152 shares of the home improvement retailer’s stock after selling 58 shares during the quarter. Home Depot comprises approximately 0.7% of Cigna Investments Inc. New’s portfolio, making the stock its 22nd largest holding. Cigna Investments Inc. New’s holdings in Home Depot were worth $3,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Synergy Asset Management LLC purchased a new position in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot during the 3rd quarter worth approximately $41,000. Sugar Maple Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $41,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at $46,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 in the last ninety days. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 0.6 %

HD opened at $416.39 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a market cap of $413.63 billion, a P/E ratio of 28.29, a PEG ratio of 4.22 and a beta of 1.05. The business’s 50-day simple moving average is $405.88 and its 200-day simple moving average is $394.98.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the company posted $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. TD Cowen upped their target price on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. DA Davidson upped their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Truist Financial lifted their target price on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $428.85.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.