CIBC Asset Management Inc Grows Stake in Elevance Health, Inc. $ELV

CIBC Asset Management Inc grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 73.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,002 shares of the company’s stock after acquiring an additional 24,928 shares during the quarter. CIBC Asset Management Inc’s holdings in Elevance Health were worth $20,683,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Elevance Health in the 4th quarter worth about $1,058,165,000. Bank of New York Mellon Corp lifted its stake in Elevance Health by 79.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after acquiring an additional 1,065,065 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Elevance Health by 24.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after acquiring an additional 901,626 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Elevance Health by 25.0% in the third quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock worth $1,292,029,000 after acquiring an additional 798,457 shares during the period. Finally, Brave Warrior Advisors LLC grew its stake in shares of Elevance Health by 65.3% in the third quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company’s stock worth $592,603,000 after acquiring an additional 724,349 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ELV shares. Guggenheim increased their price objective on shares of Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Mizuho increased their price target on Elevance Health from $385.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Jefferies Financial Group dropped their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, Citigroup raised Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $411.11.

Elevance Health Stock Up 4.8%

Shares of ELV stock opened at $410.02 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $411.80. The stock has a market cap of $89.04 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.21 and a beta of 0.67. 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 50 day simple moving average of $352.35 and a two-hundred day simple moving average of $341.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to analysts’ expectations of $48.21 billion. During the same quarter last year, the company posted $11.97 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, research analysts expect that Elevance Health, Inc. will post 26.94 earnings per share for the current year.

Elevance Health Announces Dividend

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

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.