CHICAGO TRUST Co NA Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

CHICAGO TRUST Co NA grew its stake in Elevance Health, Inc. (NYSE:ELV) by 110.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,667 shares of the company’s stock after purchasing an additional 874 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Elevance Health were worth $867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank & Trust Co purchased a new stake in Elevance Health in the second quarter worth about $27,000. Opal Wealth Advisors LLC bought a new position in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at approximately $28,000. Register Financial Advisors LLC bought a new stake in shares of Elevance Health during the first quarter valued at approximately $32,000. Finally, Crewe Advisors LLC purchased a new stake in Elevance Health in the first quarter worth $40,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV opened at $501.88 on Friday. The company has a market cap of $116.65 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.08 and a beta of 0.82. The business’s fifty day simple moving average is $531.94 and its two-hundred day simple moving average is $529.09. Elevance Health, Inc. has a 12 month low of $435.99 and a 12 month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. During the same period last year, the firm posted $9.04 earnings per share. Elevance Health’s revenue was down .4% compared to the same quarter last year. Research analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Truist Financial lifted their price target on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Barclays raised their target price on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Bank of America reissued a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $605.07.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by insiders.

Elevance Health 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.