Elevance Health, Inc. (NYSE:ELV) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,673,025 shares of the company’s stock after acquiring an additional 61,783 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Elevance Health were worth $617,179,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mutual Advisors LLC raised its stake in Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank grew its holdings in shares of Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after buying an additional 3,049 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. Diversified Trust Co raised its position in shares of Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after buying an additional 2,725 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Elevance Health by 5.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock worth $109,127,000 after buying an additional 9,916 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $397.68 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market capitalization of $90.41 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company’s 50 day simple moving average is $388.77 and its 200-day simple moving average is $436.31. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Argus restated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.