Charles Schwab Investment Management Inc. Increases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Charles Schwab Investment Management Inc. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,528,855 shares of the company’s stock after purchasing an additional 50,701 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of Elevance Health worth $720,947,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ELV. Northern Financial Advisors Inc lifted its holdings in shares of Elevance Health by 9.9% during the fourth quarter. Northern Financial Advisors Inc now owns 1,466 shares of the company’s stock worth $691,000 after purchasing an additional 132 shares during the period. Apollon Wealth Management LLC increased its position in Elevance Health by 62.7% during the 4th quarter. Apollon Wealth Management LLC now owns 3,128 shares of the company’s stock worth $1,475,000 after purchasing an additional 1,206 shares in the last quarter. Lincoln National Corp raised its position in shares of Elevance Health by 15.2% in the fourth quarter. Lincoln National Corp now owns 3,725 shares of the company’s stock valued at $1,756,000 after buying an additional 492 shares during the last quarter. Fielder Capital Group LLC acquired a new position in Elevance Health in the 4th quarter valued at $661,000. Finally, Maryland State Retirement & Pension System increased its stake in Elevance Health by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 18,456 shares of the company’s stock valued at $8,703,000 after purchasing an additional 197 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Up 1.2 %

Elevance Health stock traded up $6.13 during mid-day trading on Tuesday, hitting $536.06. The company’s stock had a trading volume of 692,867 shares, compared to its average volume of 1,045,833. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $124.59 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. The firm’s 50 day moving average is $514.57 and its 200 day moving average is $490.26. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the business earned $9.46 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ELV shares. Wells Fargo & Company lifted their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Mizuho boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Barclays upped their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $587.42.

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.