Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Childress Capital Advisors LLC

Childress Capital Advisors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691 shares of the company’s stock after buying an additional 84 shares during the period. Childress Capital Advisors LLC’s holdings in Elevance Health were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JB Capital LLC increased its holdings in shares of Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after acquiring an additional 8,038 shares in the last quarter. Chicago Capital LLC increased its stake in Elevance Health by 7.2% during the 4th quarter. Chicago Capital LLC now owns 2,169 shares of the company’s stock valued at $800,000 after purchasing an additional 145 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in Elevance Health during the 4th quarter valued at approximately $532,000. CENTRAL TRUST Co raised its holdings in shares of Elevance Health by 12.7% in the fourth quarter. CENTRAL TRUST Co now owns 1,726 shares of the company’s stock worth $637,000 after buying an additional 195 shares during the last quarter. Finally, Round Rock Advisors LLC lifted its stake in shares of Elevance Health by 1.2% during the fourth quarter. Round Rock Advisors LLC now owns 7,298 shares of the company’s stock worth $2,771,000 after buying an additional 89 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Truist Financial reduced their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Performance

NYSE ELV opened at $405.54 on Tuesday. 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, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a 50-day moving average of $386.50 and a 200 day moving average of $456.70. The stock has a market capitalization of $94.05 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.19 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 25.46%.

About Elevance Health

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.