Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,673,025 shares of the company’s stock after purchasing an additional 61,783 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.72% of Elevance Health worth $617,179,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter worth about $26,000. Crews Bank & Trust purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $34,000. Dunhill Financial LLC boosted its stake in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Elevance Health during the 3rd quarter worth approximately $44,000. Finally, Financial Perspectives Inc acquired a new position in Elevance Health during the 4th quarter valued at approximately $50,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Up 0.6 %

ELV opened at $397.68 on Wednesday. The company has a fifty day moving average of $388.77 and a two-hundred day moving average of $436.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market capitalization of $90.41 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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 expect that Elevance Health, Inc. will post 33.96 earnings per share for the current 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 paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ELV. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Mizuho reduced their price objective 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. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.