Cwm LLC Has $2.86 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Cwm LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 6,060 shares of the company’s stock after purchasing an additional 140 shares during the period. Cwm LLC’s holdings in Elevance Health were worth $2,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ELV. OFI Invest Asset Management bought a new stake in Elevance Health during the 3rd quarter worth about $25,000. ORG Partners LLC bought a new stake in Elevance Health during the 4th quarter worth about $40,000. Orion Capital Management LLC bought a new stake in Elevance Health during the 3rd quarter worth about $46,000. Milestone Investment Advisors LLC bought a new stake in Elevance Health during the 3rd quarter worth about $51,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Elevance Health during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $533.79 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $124.06 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. The company’s 50 day moving average price is $510.78 and its two-hundred day moving average price is $485.44. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $539.11.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $9.46 EPS. On average, analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Royal Bank of Canada raised their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. UBS Group raised their target price on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group raised their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.