Pathstone Family Office LLC Purchases 9,306 Shares of Elevance Health, Inc. (NYSE:ELV)

Pathstone Family Office LLC increased its stake in Elevance Health, Inc. (NYSE:ELVFree Report) by 72.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,208 shares of the company’s stock after purchasing an additional 9,306 shares during the quarter. Pathstone Family Office LLC’s holdings in Elevance Health were worth $9,674,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ELV. Roundview Capital LLC raised its holdings in Elevance Health by 2.9% in the 1st quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after purchasing an additional 52 shares during the period. Moors & Cabot Inc. bought a new position in Elevance Health in the 1st quarter worth $251,000. Baird Financial Group Inc. raised its holdings in Elevance Health by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock worth $7,305,000 after purchasing an additional 57 shares during the period. Zions Bancorporation N.A. raised its holdings in Elevance Health by 52.1% during the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after acquiring an additional 306 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in Elevance Health by 102.9% during the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after acquiring an additional 429 shares during the period. 87.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ELV. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. decreased their price target on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Cantor Fitzgerald restated an “overweight” rating and set a $547.00 price objective on shares of Elevance Health in a research report on Friday, February 2nd. Morgan Stanley raised their price objective on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Finally, Royal Bank of Canada raised their price objective on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $564.60.

Get Our Latest Report on Elevance Health

Elevance Health Trading Up 0.9 %

ELV traded up $4.45 on Thursday, hitting $502.24. The company had a trading volume of 234,916 shares, compared to its average volume of 1,187,486. The company has a market cap of $118.03 billion, a PE ratio of 19.78, a PEG ratio of 1.10 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $503.71. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $478.05 and its 200 day simple moving average is $464.24.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings results 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%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $5.23 earnings per share. Equities research analysts expect that Elevance Health, Inc. will post 37.14 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s payout ratio is 23.52%.

About Elevance Health

(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.

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

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