Cumberland Partners Ltd Sells 406 Shares of Elevance Health, Inc. (NYSE:ELV)

Cumberland Partners Ltd lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,474 shares of the company’s stock after selling 406 shares during the quarter. Elevance Health comprises 1.1% of Cumberland Partners Ltd’s investment portfolio, making the stock its 24th largest position. Cumberland Partners Ltd’s holdings in Elevance Health were worth $13,009,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the 3rd quarter valued at about $25,000. ORG Partners LLC bought a new stake in Elevance Health in the 4th quarter worth approximately $40,000. Orion Capital Management LLC bought a new stake in Elevance Health in the 3rd quarter worth approximately $46,000. Milestone Investment Advisors LLC bought a new stake in Elevance Health in the 3rd quarter worth approximately $51,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Elevance Health in the 4th quarter worth approximately $56,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was 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 of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Elevance Health Trading Up 0.1 %

Shares of ELV traded up $0.70 during mid-day trading on Tuesday, hitting $532.92. 796,340 shares of the company’s stock traded hands, compared to its average volume of 1,066,078. The firm has a market capitalization of $123.86 billion, a P/E ratio of 20.14, a PEG ratio of 1.16 and a beta of 0.78. The business’s 50-day moving average price is $510.23 and its 200-day moving average price is $485.10. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $539.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s payout ratio is 24.64%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ELV. Barclays boosted their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group boosted their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $587.64.

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.