Elevance Health, Inc. (NYSE:ELV) Shares Bought by CENTRAL TRUST Co

CENTRAL TRUST Co increased its stake in Elevance Health, Inc. (NYSE:ELV) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,726 shares of the company’s stock after purchasing an additional 195 shares during the period. CENTRAL TRUST Co’s holdings in Elevance Health were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Czech National Bank raised its position in Elevance Health by 6.7% during the 3rd quarter. Czech National Bank now owns 47,237 shares of the company’s stock worth $24,563,000 after buying an additional 2,947 shares during the last quarter. GAMMA Investing LLC raised its position in Elevance Health by 19.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock worth $1,611,000 after buying an additional 502 shares during the last quarter. Chemistry Wealth Management LLC raised its position in Elevance Health by 4.0% during the 3rd quarter. Chemistry Wealth Management LLC now owns 6,793 shares of the company’s stock worth $3,533,000 after buying an additional 261 shares during the last quarter. Eagle Rock Investment Company LLC raised its position in Elevance Health by 25.1% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 14,069 shares of the company’s stock worth $7,316,000 after buying an additional 2,826 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its position in Elevance Health by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,442 shares of the company’s stock worth $750,000 after buying an additional 56 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock opened at $405.54 on Tuesday. The company’s fifty day moving average price is $386.50 and its 200 day moving average price is $456.70. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock has a market capitalization of $94.05 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.19 and a beta of 0.83. 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 (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 34.07 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on ELV shares. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley cut their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.