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

Cullen Frost Bankers Inc. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 9.6% during the 4th quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC grew its holdings in shares of Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after purchasing an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its holdings in shares of Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after purchasing an additional 29 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after purchasing an additional 29 shares during the last quarter. Savvy Advisors Inc. grew its holdings in shares of Elevance Health by 3.2% during the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after purchasing an additional 30 shares during the last quarter. Finally, Detalus Advisors LLC grew its holdings in shares of Elevance Health by 1.8% during the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock worth $558,000 after purchasing an additional 31 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday. Wells Fargo & Company reduced their target price on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Citigroup upgraded Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the company from $363.00 to $498.00 in a report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.16.

Elevance Health Stock Performance

Shares of ELV stock opened at $396.18 on Thursday. The business’s 50 day simple moving average is $329.59 and its 200 day simple moving average is $335.33. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $411.31. The stock has a market capitalization of $86.04 billion, a PE ratio of 16.85, a PEG ratio of 2.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48.

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

Elevance Health Dividend Announcement

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