Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,710 shares of the company’s stock after purchasing an additional 119 shares during the period. Checchi Capital Advisers LLC’s holdings in Elevance Health were worth $1,000,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Impact Investors Inc acquired a new position in Elevance Health during the fourth quarter worth $568,000. Sabal Trust CO grew its holdings in Elevance Health by 16.6% during the fourth quarter. Sabal Trust CO now owns 5,090 shares of the company’s stock worth $1,878,000 after acquiring an additional 723 shares during the period. National Pension Service grew its holdings in Elevance Health by 4.1% during the fourth quarter. National Pension Service now owns 493,614 shares of the company’s stock worth $182,094,000 after acquiring an additional 19,542 shares during the period. Impax Asset Management Group plc grew its holdings in Elevance Health by 1.1% during the fourth quarter. Impax Asset Management Group plc now owns 25,596 shares of the company’s stock worth $9,442,000 after acquiring an additional 291 shares during the period. Finally, Crestwood Advisors Group LLC grew its holdings in Elevance Health by 26.9% during the fourth quarter. Crestwood Advisors Group LLC now owns 669 shares of the company’s stock worth $247,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Performance

Elevance Health stock opened at $386.22 on Thursday. The firm has a market capitalization of $87.81 billion, a P/E ratio of 15.08, a PEG ratio of 1.18 and a beta of 0.83. The stock has a fifty day moving average price of $386.62 and a 200 day moving average price of $440.93. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

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.