Callan Capital LLC Buys 425 Shares of Elevance Health, Inc. (NYSE:ELV)

Callan Capital LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 50.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,262 shares of the company’s stock after acquiring an additional 425 shares during the period. Callan Capital LLC’s holdings in Elevance Health were worth $466,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $26,000. Eastern Bank bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $31,000. Crews Bank & Trust bought a new position in shares of Elevance Health during the 4th quarter worth approximately $34,000. Dunhill Financial LLC raised its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in Elevance Health in the 3rd quarter valued at $44,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.4 %

Shares of Elevance Health stock opened at $385.04 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The business has a fifty day simple moving average of $385.25 and a 200 day simple moving average of $443.77. The stock has a market cap of $89.30 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. Elevance Health’s payout ratio is 25.46%.

Analyst Ratings Changes

Several equities analysts have issued reports on ELV shares. Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

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.