Cwm LLC Increases Holdings in Elevance Health, Inc. $ELV

Cwm LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 167.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,088 shares of the company’s stock after acquiring an additional 11,962 shares during the period. Cwm LLC’s holdings in Elevance Health were worth $6,168,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC lifted its stake 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 purchasing an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Elevance Health during the 2nd quarter valued at $32,000. Glass Jacobson Investment Advisors llc raised its holdings in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the period. Trust Co. of Toledo NA OH bought a new stake in Elevance Health in the second quarter worth $43,000. Finally, VSM Wealth Advisory LLC purchased a new position in Elevance Health during the second quarter worth $61,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Elevance Health stock 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 company has a market capitalization of $77.55 billion, a PE ratio of 14.27, a P/E/G ratio of 1.61 and a beta of 0.52. The company has a 50 day moving average price of $333.92 and a 200-day moving average price of $328.64. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $1.71 dividend. 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 is 27.96%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Weiss Ratings downgraded shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $396.21.

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.