Crews Bank & Trust Makes New $34,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Crews Bank & Trust purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 93 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Centaurus Financial Inc. lifted its stake in Elevance Health by 66.9% in the second quarter. Centaurus Financial Inc. now owns 918 shares of the company’s stock worth $498,000 after acquiring an additional 368 shares during the period. Czech National Bank grew its stake in shares of Elevance Health by 6.7% in 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. Park Avenue Securities LLC grew its stake in shares of Elevance Health by 1.8% in the third quarter. Park Avenue Securities LLC now owns 9,302 shares of the company’s stock worth $4,837,000 after acquiring an additional 164 shares during the last quarter. Rockland Trust Co. increased its stake in Elevance Health by 18.7% during the 3rd quarter. Rockland Trust Co. now owns 602 shares of the company’s stock valued at $313,000 after purchasing an additional 95 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its position in shares of Elevance Health by 0.4% during the third quarter. Trivant Custom Portfolio Group LLC now owns 6,318 shares of the company’s stock valued at $3,285,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. TD Cowen reduced their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Mizuho lowered their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Down 0.9 %

Shares of NYSE ELV opened at $395.82 on Friday. The stock has a market capitalization of $91.80 billion, a P/E ratio of 15.46, a PEG ratio of 1.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business’s 50 day moving average is $386.50 and its two-hundred day moving average is $457.81. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts expect that Elevance Health, Inc. will post 34.09 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is currently 25.46%.

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.