Cullen Frost Bankers Inc. Sells 1,971 Shares of Elevance Health, Inc. $ELV

Cullen Frost Bankers Inc. cut its position in Elevance Health, Inc. (NYSE:ELV) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,535 shares of the company’s stock after selling 1,971 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Elevance Health were worth $6,497,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Sound View Wealth Advisors Group LLC raised its holdings in Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC boosted its position in shares of Elevance Health by 3.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after acquiring an additional 29 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Elevance Health by 2.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after acquiring an additional 29 shares during the period. Savvy Advisors Inc. boosted its position in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after acquiring an additional 30 shares during the period. Finally, Detalus Advisors LLC boosted its position in shares of Elevance Health by 1.8% in the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 1.5%

Shares of NYSE ELV opened at $396.18 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a market cap of $86.04 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.29 and a beta of 0.66. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $411.31. The stock has a 50-day moving average price of $329.59 and a two-hundred day moving average price of $335.33.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.8 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s payout ratio is presently 29.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ELV shares. Evercore reissued a “hold” rating on shares of Elevance Health in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Elevance Health from $397.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wells Fargo & Company dropped their price target on Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Sanford C. Bernstein boosted their price target on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $396.16.

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.