Charles Schwab Investment Management Inc. Acquires 7,828 Shares of Elevance Health, Inc. (NYSE:ELV)

Charles Schwab Investment Management Inc. raised its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,478,154 shares of the company’s stock after acquiring an additional 7,828 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Elevance Health were worth $643,618,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. BDO Wealth Advisors LLC raised its stake in shares of Elevance Health by 266.7% during the 2nd quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock worth $25,000 after purchasing an additional 40 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Elevance Health during the 4th quarter worth $29,000. TD Capital Management LLC bought a new stake in shares of Elevance Health during the 4th quarter worth $30,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the 3rd quarter worth $25,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Elevance Health during the 3rd quarter worth $30,000. 87.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. Royal Bank of Canada boosted their price objective on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $547.00 price objective on shares of Elevance Health in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Morgan Stanley boosted their price objective on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $564.60.

Get Our Latest Research Report on ELV

Elevance Health Price Performance

Shares of NYSE ELV traded up $0.70 during midday trading on Tuesday, hitting $491.03. 137,478 shares of the company’s stock were exchanged, compared to its average volume of 1,213,229. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $501.78. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.59. The company has a market cap of $115.39 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.11 and a beta of 0.78. The business’s fifty day moving average price is $477.03 and its two-hundred day moving average price is $463.88.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.23 earnings per share. As a group, research analysts forecast that Elevance Health, Inc. will post 37.14 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be given a $1.63 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.33%. Elevance Health’s payout ratio is presently 23.52%.

Elevance Health Profile

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

See Also

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELVFree Report).

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

Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.