Crestwood Advisors Group LLC Acquires 142 Shares of Elevance Health, Inc. (NYSE:ELV)

Crestwood Advisors Group LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 669 shares of the company’s stock after purchasing an additional 142 shares during the period. Crestwood Advisors Group LLC’s holdings in Elevance Health were worth $247,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ELV. Pathway Financial Advisers LLC boosted its holdings in Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp boosted its holdings in Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after purchasing an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the period. Wellington Management Group LLP raised its position in shares of Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at approximately $129,221,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 3.9 %

Shares of NYSE ELV opened at $386.22 on Thursday. 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, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a 50 day moving average price of $386.62 and a two-hundred day moving average price of $440.93. The stock has a market cap of $87.81 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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 analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is 26.71%.

Analyst Ratings Changes

ELV has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Mizuho dropped their target price 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. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.