Elevance Health, Inc. $ELV Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 62.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 383,300 shares of the company’s stock after selling 624,539 shares during the period. CIBC Private Wealth Group LLC’s holdings in Elevance Health were worth $123,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. Evergreen Wealth Management LLC grew its position in shares of Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after acquiring an additional 4,336 shares during the last quarter. Blume Capital Management Inc. lifted its position in Elevance Health by 236.7% in the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after purchasing an additional 4,320 shares during the last quarter. Canoe Financial LP boosted its stake in Elevance Health by 18.1% during the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after purchasing an additional 59,743 shares during the period. Synergy Asset Management LLC boosted its stake in Elevance Health by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares during the period. Finally, Victory Capital Management Inc. grew its position in Elevance Health by 31.1% in the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock worth $149,182,000 after purchasing an additional 109,462 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 1.4%

Shares of NYSE:ELV opened at $296.14 on Wednesday. The company has a 50 day moving average of $335.31 and a 200-day moving average of $334.16. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a market cap of $65.36 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.60 and a beta of 0.51. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same quarter last year, the business earned $3.84 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.3%. Elevance Health’s payout ratio is 27.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Truist Financial decreased their price objective on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. UBS Group set a $400.00 target price on Elevance Health in a research note on Thursday, January 29th. Finally, Robert W. Baird boosted their price target on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $387.40.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.