Blue Trust Inc. Has $1.80 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Blue Trust Inc. increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 72.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,886 shares of the company's stock after purchasing an additional 2,050 shares during the period. Blue Trust Inc.'s holdings in Elevance Health were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Lifeworks Advisors LLC boosted its stake in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock worth $539,000 after buying an additional 25 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock worth $477,000 after buying an additional 26 shares during the last quarter. Fullcircle Wealth LLC boosted its stake in shares of Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock worth $906,000 after buying an additional 26 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares during the last quarter. Finally, TCI Wealth Advisors Inc. boosted its stake in shares of Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company's stock worth $263,000 after buying an additional 27 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Elevance Health stock traded up $9.38 during trading hours on Wednesday, hitting $391.86. The company had a trading volume of 1,112,805 shares, compared to its average volume of 1,626,861. The firm has a 50-day moving average of $384.81 and a 200 day moving average of $446.05. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a market cap of $90.88 billion, a PE ratio of 15.30, a PEG ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, sell-side analysts expect that Elevance Health, Inc. will post 34 earnings per share for the current 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 given a dividend of $1.71 per share. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. Elevance Health's dividend payout ratio (DPR) is currently 25.46%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ELV shares. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Finally, Argus reaffirmed a "hold" rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.