Chevy Chase Trust Holdings LLC Sells 2,608 Shares of Elevance Health, Inc. (NYSE:ELV)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,378 shares of the company’s stock after selling 2,608 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Elevance Health worth $45,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Good Life Advisors LLC boosted its holdings in Elevance Health by 11.2% in the 3rd quarter. Good Life Advisors LLC now owns 625 shares of the company’s stock worth $325,000 after buying an additional 63 shares during the period. Global Retirement Partners LLC boosted its holdings in Elevance Health by 8.8% in the 3rd quarter. Global Retirement Partners LLC now owns 4,189 shares of the company’s stock worth $2,178,000 after buying an additional 338 shares during the period. Buffington Mohr McNeal boosted its holdings in Elevance Health by 7.4% in the 3rd quarter. Buffington Mohr McNeal now owns 10,684 shares of the company’s stock worth $5,556,000 after buying an additional 734 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Elevance Health by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,010 shares of the company’s stock worth $14,565,000 after buying an additional 1,175 shares during the period. Finally, Kozak & Associates Inc. boosted its holdings in Elevance Health by 15.3% in the 3rd quarter. Kozak & Associates Inc. now owns 385 shares of the company’s stock worth $191,000 after buying an additional 51 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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 report on Monday, January 6th. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, TD Cowen decreased their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Down 0.5 %

Shares of NYSE ELV opened at $389.58 on Friday. The firm’s 50-day moving average price is $384.93 and its 200-day moving average price is $450.29. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month 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 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%. On average, equities research analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 1.76%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

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.