CSM Advisors LLC Takes Position in Elevance Health, Inc. $ELV

CSM Advisors LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 36,527 shares of the company’s stock, valued at approximately $14,208,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC bought a new position in Elevance Health during the first quarter worth $230,000. Stratos Wealth Advisors LLC acquired a new stake in Elevance Health during the 1st quarter worth about $220,000. Allworth Financial LP raised its position in shares of Elevance Health by 45.3% in the 1st quarter. Allworth Financial LP now owns 3,905 shares of the company’s stock worth $1,674,000 after acquiring an additional 1,217 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Elevance Health by 1.1% in the 1st quarter. Alps Advisors Inc. now owns 3,843 shares of the company’s stock valued at $1,672,000 after purchasing an additional 40 shares during the period. Finally, Cerity Partners LLC grew its stake in Elevance Health by 1.1% during the first quarter. Cerity Partners LLC now owns 63,769 shares of the company’s stock worth $27,737,000 after purchasing an additional 704 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ELV shares. Truist Financial set a $400.00 price target on Elevance Health in a report on Tuesday, October 14th. TD Cowen raised their price target on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Leerink Partners reiterated a “market perform” rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Argus restated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Finally, Mizuho dropped their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $397.33.

Elevance Health Trading Up 1.0%

Shares of Elevance Health stock opened at $317.51 on Friday. The company has a market capitalization of $70.56 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The stock has a fifty day simple moving average of $329.41 and a 200 day simple moving average of $344.86. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.37 EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 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 Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Insider Activity

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Company Profile

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.