Elevance Health, Inc. (NYSE:ELV) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 82.9% during the 4th quarter, Holdings Channel reports. The firm owned 720,367 shares of the company’s stock after purchasing an additional 326,543 shares during the period. CIBC Private Wealth Group LLC’s holdings in Elevance Health were worth $276,073,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ELV. Raelipskie Partnership acquired a new position in Elevance Health during the third quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health during the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health in the fourth quarter worth approximately $30,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.0 %

Shares of ELV stock opened at $431.84 on Friday. The stock’s 50 day simple moving average is $404.45 and its 200 day simple moving average is $421.28. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market capitalization of $98.18 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. Elevance Health’s payout ratio is presently 26.71%.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $519.81.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.