Charles Schwab Trust Co Purchases Shares of 982 Elevance Health, Inc. (NYSE:ELV)

Charles Schwab Trust Co acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 982 shares of the company's stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. Milestone Asset Management LLC grew its position in shares of Elevance Health by 2.2% in the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after buying an additional 24 shares during the last quarter. Tobam boosted its stake in Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after acquiring an additional 27 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after purchasing an additional 30 shares during the last quarter. Finally, McLean Asset Management Corp increased its position in shares of Elevance Health by 2.3% during the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after purchasing an additional 32 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock traded up $9.05 during trading hours on Friday, reaching $393.70. 2,749,668 shares of the company's stock were exchanged, compared to its average volume of 1,544,064. 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 company's 50 day moving average is $410.29 and its two-hundred day moving average is $400.80. The company has a market cap of $88.95 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 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 1.74%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Guggenheim reiterated a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $499.53.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.