Checchi Capital Advisers LLC Boosts Holdings in Elevance Health Inc. (NYSE:ELV)

Checchi Capital Advisers LLC boosted its position in shares of Elevance Health Inc. (NYSE:ELVGet Rating) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,588 shares of the company’s stock after acquiring an additional 133 shares during the period. Checchi Capital Advisers LLC’s holdings in Elevance Health were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Elevance Health during the 4th quarter valued at approximately $1,128,341,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Elevance Health by 258.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 753,985 shares of the company’s stock valued at $352,222,000 after purchasing an additional 543,396 shares in the last quarter. Capital International Investors increased its stake in Elevance Health by 8.4% during the 4th quarter. Capital International Investors now owns 5,638,163 shares of the company’s stock valued at $2,613,667,000 after purchasing an additional 437,816 shares in the last quarter. Marshall Wace LLP increased its stake in Elevance Health by 691.6% during the 4th quarter. Marshall Wace LLP now owns 486,857 shares of the company’s stock valued at $225,676,000 after purchasing an additional 425,351 shares in the last quarter. Finally, Cibc World Markets Corp increased its stake in Elevance Health by 574.7% during the 4th quarter. Cibc World Markets Corp now owns 371,174 shares of the company’s stock valued at $172,054,000 after purchasing an additional 316,160 shares in the last quarter. Hedge funds and other institutional investors own 84.28% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 420 shares of Elevance Health stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $497.14, for a total value of $208,798.80. Following the completion of the transaction, the director now owns 9,491 shares in the company, valued at $4,718,355.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of Elevance Health stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $488.60, for a total value of $3,091,860.80. Following the completion of the transaction, the executive vice president now owns 14,529 shares in the company, valued at $7,098,869.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 420 shares of Elevance Health stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $497.14, for a total transaction of $208,798.80. Following the completion of the transaction, the director now owns 9,491 shares of the company’s stock, valued at approximately $4,718,355.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,738 shares of company stock worth $3,764,851. Corporate insiders own 0.27% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $475.13 on Friday. Elevance Health Inc. has a 1-year low of $355.43 and a 1-year high of $533.68. The stock has a market cap of $114.03 billion, a PE ratio of 19.05, a P/E/G ratio of 1.36 and a beta of 0.90. The firm has a 50-day simple moving average of $478.57 and a two-hundred day simple moving average of $477.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.36.

Elevance Health (NYSE:ELVGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $8.04 earnings per share for the quarter, beating analysts’ consensus estimates of $7.74 by $0.30. The firm had revenue of $38.48 billion during the quarter, compared to analysts’ expectations of $38.05 billion. Elevance Health had a net margin of 4.09% and a return on equity of 19.20%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.03 earnings per share. As a group, analysts forecast that Elevance Health Inc. will post 28.79 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Thursday, September 8th. Elevance Health’s dividend payout ratio (DPR) is currently 20.53%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ELV shares. Mizuho increased their price objective on shares of Elevance Health from $510.00 to $545.00 in a research note on Wednesday, May 4th. Stephens cut their price objective on shares of Elevance Health to $550.00 in a research note on Friday, July 22nd. Credit Suisse Group raised their price target on shares of Elevance Health from $518.00 to $584.00 and gave the company an “outperform” rating in a research report on Thursday, April 21st. Cowen dropped their price target on shares of Elevance Health to $577.00 in a research report on Friday, July 22nd. Finally, Cowen raised their price target on shares of Elevance Health from $472.00 to $642.00 in a research report on Thursday, April 21st. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $558.30.

Elevance Health Company Profile

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Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.

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

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