Checchi Capital Advisers LLC Increases Stake in Elevance Health, Inc. (NYSE:ELV)

Checchi Capital Advisers LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC lifted its holdings in Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares in the last quarter. Stifel Financial Corp lifted its holdings in Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after purchasing an additional 538,978 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after acquiring an additional 334,552 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Elevance Health in the 3rd quarter worth $129,221,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ELV shares. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Down 3.9 %

ELV opened at $386.22 on Thursday. The firm has a market cap of $87.81 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business’s 50 day moving average is $386.62 and its two-hundred day moving average is $440.93. 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 (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.77%. Elevance Health’s payout ratio is 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.