Elevance Health, Inc. (NYSE:ELV) Shares Bought by Cwm LLC

Cwm LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,060 shares of the company’s stock after buying an additional 140 shares during the quarter. Cwm LLC’s holdings in Elevance Health were worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC increased its stake in Elevance Health by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after buying an additional 21 shares during the period. Clearstead Advisors LLC increased its position in shares of Elevance Health by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares during the last quarter. Financial Counselors Inc. increased its position in shares of Elevance Health by 1.0% in the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after purchasing an additional 22 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Elevance Health by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after purchasing an additional 22 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC increased its position in shares of Elevance Health by 8.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after purchasing an additional 22 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.2 %

Elevance Health stock opened at $533.79 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $510.78 and a two-hundred day moving average price of $485.44. The firm has a market capitalization of $124.06 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.17 and a beta of 0.78. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $539.11.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $9.46 EPS. Sell-side analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ELV. UBS Group boosted their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Truist Financial reissued a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Barclays lifted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada lifted their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

About Elevance Health

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.