CIBC Bancorp USA Inc. Makes New Investment in Elevance Health, Inc. $ELV

CIBC Bancorp USA Inc. purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,094 shares of the company’s stock, valued at approximately $10,047,000.

A number of other large investors also recently bought and sold shares of ELV. Vermillion & White Wealth Management Group LLC lifted its position in shares of Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after buying an additional 63 shares in the last quarter. Rossby Financial LCC boosted its position in Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after buying an additional 44 shares during the period. Activest Wealth Management grew its stake in Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 34 shares in the last quarter. Finally, 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 acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $291.90 on Friday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The firm has a market capitalization of $64.43 billion, a PE ratio of 11.62, a PEG 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. The firm’s 50-day moving average price is $330.59 and its 200 day moving average price is $333.41.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The business had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business 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 is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Elevance Health’s dividend payout ratio (DPR) is 27.39%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELV. Royal Bank Of Canada cut Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective on the stock. in a research note on Tuesday, February 3rd. Sanford C. Bernstein cut their price target on Elevance Health from $431.00 to $409.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Barclays cut their target price on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $387.40.

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.