Charles Schwab Investment Management Inc. increased its stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,470,326 shares of the company’s stock after acquiring an additional 4,072 shares during the period. Charles Schwab Investment Management Inc. owned about 0.62% of Elevance Health worth $653,251,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its position in Elevance Health by 97,501.7% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 83,475,802 shares of the company’s stock worth $37,087,464,000 after acquiring an additional 83,390,275 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Elevance Health by 844.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,966,205 shares of the company’s stock worth $148,413,000 after purchasing an additional 2,651,986 shares during the last quarter. Norges Bank bought a new position in Elevance Health during the fourth quarter worth about $1,253,211,000. Legal & General Group Plc bought a new position in Elevance Health during the fourth quarter worth about $944,528,000. Finally, Moneta Group Investment Advisors LLC acquired a new position in Elevance Health during the fourth quarter worth approximately $664,077,000. 87.80% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
ELV has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $572.00 price target on shares of Elevance Health in a research note on Thursday, July 20th. Morgan Stanley lifted their target price on shares of Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Stephens reissued an “overweight” rating and issued a $555.00 price target on shares of Elevance Health in a report on Thursday, July 20th. Cantor Fitzgerald restated an “overweight” rating and set a $547.00 price objective on shares of Elevance Health in a report on Thursday, October 19th. Finally, TD Cowen increased their target price on Elevance Health from $564.00 to $585.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $564.27.
Elevance Health Stock Down 1.1 %
Shares of NYSE:ELV opened at $456.72 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.41 and a current ratio of 1.41. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $544.01. The company has a market capitalization of $107.31 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. The company has a fifty day moving average of $450.31 and a 200-day moving average of $453.72.
Elevance Health (NYSE:ELV – Get Free Report) last posted its quarterly earnings data on Wednesday, October 18th. The company reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $8.45 by $0.54. The company had revenue of $42.48 billion for the quarter, compared to analyst estimates of $42.69 billion. Elevance Health had a net margin of 3.61% and a return on equity of 20.71%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $7.53 EPS. On average, equities analysts predict that Elevance Health, Inc. will post 33.07 EPS for the current fiscal year.
Elevance Health Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th will be issued a dividend of $1.48 per share. The ex-dividend date is Tuesday, December 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.30%. Elevance Health’s dividend payout ratio is currently 23.24%.
Insider Transactions at Elevance Health
In other Elevance Health news, CAO Ronald W. Penczek sold 64 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $454.35, for a total value of $29,078.40. Following the completion of the sale, the chief accounting officer now owns 2,842 shares of the company’s stock, valued at $1,291,262.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.
About Elevance Health
Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.
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