Community Bank & Trust Waco Texas Acquires 846 Shares of Elevance Health, Inc. (NYSE:ELV)

Community Bank & Trust Waco Texas grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,615 shares of the company’s stock after purchasing an additional 846 shares during the quarter. Elevance Health comprises approximately 1.6% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 21st biggest holding. Community Bank & Trust Waco Texas’ holdings in Elevance Health were worth $5,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. abrdn plc lifted its holdings in shares of Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after buying an additional 129,364 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the fourth quarter worth about $218,000. Chicago Capital LLC lifted its holdings in shares of Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after buying an additional 4,986 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Elevance Health in the fourth quarter worth about $2,235,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. Mizuho increased their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, UBS Group raised 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, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $1.59 during trading hours on Wednesday, reaching $531.33. 194,784 shares of the stock traded hands, compared to its average volume of 1,054,977. The company has a 50 day moving average price of $510.23 and a 200 day moving average price of $485.10. The firm has a market capitalization of $123.49 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.17 and a beta of 0.78. 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, Inc. has a one year low of $412.00 and a one year high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate 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 was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $9.46 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company 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 dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Activity at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.

Elevance Health 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.