CIBC Asset Management Inc Has $11.01 Million Stake in Elevance Health, Inc. $ELV

CIBC Asset Management Inc cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,074 shares of the company’s stock after selling 8,591 shares during the quarter. CIBC Asset Management Inc’s holdings in Elevance Health were worth $11,010,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after acquiring an additional 37 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Elevance Health in the 2nd quarter valued at $32,000. Motco increased its position in shares of Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after buying an additional 77 shares during the period. True Wealth Design LLC raised its stake in Elevance Health by 431.8% during the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock worth $38,000 after buying an additional 95 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its holdings 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 buying an additional 80 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho set a $413.00 price objective on Elevance Health in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $320.00 price objective (down previously from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Barclays boosted their target price on Elevance Health from $385.00 to $404.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Wells Fargo & Company raised their price objective on Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Twelve analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health Price Performance

ELV opened at $377.52 on Tuesday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $83.90 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.91 and a beta of 0.51. The firm’s fifty day moving average price is $350.10 and its two-hundred day moving average price is $328.90.

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.