Checchi Capital Advisers LLC Buys 133 Shares of Elevance Health Inc. (NYSE:ELV)

Checchi Capital Advisers LLC grew its stake in shares of Elevance Health Inc. (NYSE:ELVGet Rating) by 5.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,588 shares of the company’s stock after purchasing an additional 133 shares during the period. Checchi Capital Advisers LLC’s holdings in Elevance Health were worth $1,271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Norges Bank bought a new stake in Elevance Health during the 4th quarter worth approximately $1,128,341,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Elevance Health by 258.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 753,985 shares of the company’s stock worth $352,222,000 after buying an additional 543,396 shares during the last quarter. Capital International Investors boosted its stake in shares of Elevance Health by 8.4% in the 4th quarter. Capital International Investors now owns 5,638,163 shares of the company’s stock worth $2,613,667,000 after buying an additional 437,816 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Elevance Health by 691.6% in the 4th quarter. Marshall Wace LLP now owns 486,857 shares of the company’s stock worth $225,676,000 after buying an additional 425,351 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of Elevance Health by 574.7% in the 4th quarter. Cibc World Markets Corp now owns 371,174 shares of the company’s stock worth $172,054,000 after buying an additional 316,160 shares during the last quarter. 84.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELV has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Elevance Health from $527.00 to $605.00 and gave the stock a “buy” rating in a research note on Thursday, April 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Elevance Health from $453.00 to $574.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Truist Financial boosted their target price on Elevance Health from $590.00 to $610.00 in a research note on Thursday, April 21st. Cowen boosted their target price on Elevance Health from $472.00 to $642.00 in a research note on Thursday, April 21st. Finally, Stephens dropped their price objective on Elevance Health to $550.00 in a research note on Friday, July 22nd. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $558.30.

Elevance Health Trading Up 0.0 %

NYSE:ELV opened at $475.13 on Friday. The company has a market cap of $114.03 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.36 and a beta of 0.90. The stock’s fifty day moving average price is $478.57 and its two-hundred day moving average price is $477.93. Elevance Health Inc. has a 1 year low of $355.43 and a 1 year high of $533.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.36.

Elevance Health (NYSE:ELVGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The company reported $8.04 earnings per share for the quarter, topping the consensus estimate of $7.74 by $0.30. The firm had revenue of $38.48 billion for the quarter, compared to analysts’ expectations of $38.05 billion. Elevance Health had a net margin of 4.09% and a return on equity of 19.20%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.03 earnings per share. As a group, analysts expect that Elevance Health Inc. will post 28.79 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be issued a $1.28 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $5.12 annualized dividend and a dividend yield of 1.08%. Elevance Health’s payout ratio is currently 20.53%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of the company’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $488.60, for a total value of $3,091,860.80. Following the transaction, the executive vice president now owns 14,529 shares of the company’s stock, valued at $7,098,869.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert L. Dixon, Jr. sold 420 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $497.14, for a total value of $208,798.80. Following the transaction, the director now owns 9,491 shares of the company’s stock, valued at $4,718,355.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of the stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $488.60, for a total value of $3,091,860.80. Following the completion of the transaction, the executive vice president now directly owns 14,529 shares in the company, valued at approximately $7,098,869.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,738 shares of company stock valued at $3,764,851. 0.27% of the stock is currently owned by company insiders.

Elevance Health Profile

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Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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