Elevance Health, Inc. (NYSE:ELV) Stock Position Raised by Callan Capital LLC

Callan Capital LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 50.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,262 shares of the company’s stock after purchasing an additional 425 shares during the period. Callan Capital LLC’s holdings in Elevance Health were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Oxbow Advisors LLC raised its stake in shares of Elevance Health by 11.0% during the 4th quarter. Oxbow Advisors LLC now owns 11,573 shares of the company’s stock worth $4,269,000 after purchasing an additional 1,147 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Elevance Health by 9.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 489 shares of the company’s stock worth $180,000 after purchasing an additional 41 shares in the last quarter. Dahring Cusmano LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth about $377,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth about $458,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth about $60,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Argus reissued a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Mizuho lowered their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $385.04 on Friday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a market capitalization of $89.30 billion, a PE ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. The business’s 50 day moving average is $385.25 and its 200-day moving average is $443.77. 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 announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

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.