CIBC Private Wealth Group LLC Decreases Stake in Elevance Health, Inc. $ELV

CIBC Private Wealth Group LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 62.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 383,300 shares of the company’s stock after selling 624,539 shares during the quarter. CIBC Private Wealth Group LLC owned 0.17% of Elevance Health worth $123,852,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ELV. Cetera Investment Advisers boosted its holdings in Elevance Health by 5.7% in the second quarter. Cetera Investment Advisers now owns 63,434 shares of the company’s stock valued at $24,673,000 after purchasing an additional 3,438 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Elevance Health by 9.4% during the 2nd quarter. Avantax Advisory Services Inc. now owns 19,752 shares of the company’s stock worth $7,683,000 after purchasing an additional 1,694 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Elevance Health by 3.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 48,555 shares of the company’s stock valued at $18,887,000 after purchasing an additional 1,676 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Elevance Health by 5.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 82,011 shares of the company’s stock valued at $31,899,000 after purchasing an additional 4,405 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Elevance Health by 23.0% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 920 shares of the company’s stock valued at $358,000 after buying an additional 172 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV stock opened at $296.14 on Wednesday. The stock’s 50 day simple moving average is $335.31 and its 200 day simple moving average is $334.16. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. 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. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping 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 firm had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the previous year, the company posted $3.84 earnings per share. The firm’s revenue 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, equities 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 will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 27.39%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Robert W. Baird increased their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Barclays decreased their price objective on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Leerink Partners boosted their target price on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Finally, Morgan Stanley cut their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $387.40.

Elevance Health Company 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.