Callan Family Office LLC Acquires New Holdings in Elevance Health, Inc. (NYSE:ELV)

Callan Family Office LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,469 shares of the company’s stock, valued at approximately $911,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Elevance Health by 4.5% during the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock worth $141,777,000 after purchasing an additional 11,646 shares during the period. Consolidated Planning Corp purchased a new stake in Elevance Health during the third quarter worth about $444,000. TFB Advisors LLC increased its stake in Elevance Health by 23.6% during the third quarter. TFB Advisors LLC now owns 540 shares of the company’s stock worth $281,000 after purchasing an additional 103 shares during the period. Leavell Investment Management Inc. increased its stake in Elevance Health by 3.4% during the third quarter. Leavell Investment Management Inc. now owns 6,165 shares of the company’s stock worth $3,206,000 after purchasing an additional 200 shares during the period. Finally, Equitable Trust Co. increased its stake in Elevance Health by 159.6% during the third quarter. Equitable Trust Co. now owns 1,760 shares of the company’s stock worth $915,000 after purchasing an additional 1,082 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV opened at $409.59 on Friday. The stock has a 50 day moving average price of $390.64 and a 200 day moving average price of $434.13. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $93.12 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly 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%. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

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.