Cwm LLC Acquires 11,962 Shares of Elevance Health, Inc. $ELV

Cwm LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 167.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,088 shares of the company’s stock after buying an additional 11,962 shares during the quarter. Cwm LLC’s holdings in Elevance Health were worth $6,168,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in Elevance Health during the second quarter valued at about $32,000. Glass Jacobson Investment Advisors llc grew its stake in Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares during the last quarter. Trust Co. of Toledo NA OH bought a new position in Elevance Health in the second quarter worth about $43,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Elevance Health during the second quarter valued at about $61,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ELV shares. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. UBS Group lowered their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Guggenheim lifted their price target on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Robert W. Baird raised their price objective 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 research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $396.21.

Elevance Health Stock Performance

Shares of ELV opened at $348.97 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a 50-day moving average of $333.92 and a two-hundred day moving average of $328.64. The stock has a market cap of $77.55 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.61 and a beta of 0.52. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same period in the prior year, the company earned $8.37 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

About Elevance Health

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.