CIBC Asset Management Inc Increases Position in Elevance Health, Inc. $ELV

Key Points

• CIBC Asset Management boosted its stake in Elevance Health by 73.2% in the fourth quarter, adding 24,928 shares and bringing its total holding to 59,002 shares valued at about $20.7 million.
• Elevance Health reported strong quarterly results, with EPS of $12.58 versus analyst expectations of $10.74 and revenue of $49.49 billion, also topping estimates. The company said quarterly revenue rose 1.5% year over year.
• The company announced a quarterly dividend of $1.72 per share, payable June 25, and Wall Street maintains a Moderate Buy consensus with an average price target of $411.11.

CIBC Asset Management Inc raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 73.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,002 shares of the company's stock after purchasing an additional 24,928 shares during the period. CIBC Asset Management Inc's holdings in Elevance Health were worth $20,683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ELV. Sei Investments Co. grew its holdings in shares of Elevance Health by 7.7% in the second quarter. Sei Investments Co. now owns 163,668 shares of the company's stock worth $63,666,000 after purchasing an additional 11,745 shares during the last quarter. Glenview Trust co raised its holdings in Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company's stock valued at $630,000 after buying an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company's stock valued at $25,650,000 after buying an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Elevance Health by 5.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company's stock valued at $16,478,000 after buying an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company's stock worth $17,080,000 after acquiring an additional 23,180 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $410.02 on Friday. The company's fifty day moving average price is $352.35 and its 200-day moving average price is $341.24. The stock has a market cap of $89.04 billion, a PE ratio of 17.44, a price-to-earnings-growth 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. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $411.80.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) 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 company had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same period last year, the business earned $11.97 EPS. Elevance Health's quarterly 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, equities analysts expect that Elevance Health, Inc. will post 26.94 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELV. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Sanford C. Bernstein lifted their price objective on Elevance Health from $384.00 to $424.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Evercore reissued a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on Elevance Health from $397.00 to $411.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $411.11.

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.

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