Bartlett & Co. LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Posted by on Mar 18th, 2023

Bartlett & Co. LLC bought a new position in Elevance Health, Inc. (NYSE:ELV – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 951 shares of the company’s stock, valued at approximately $488,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its holdings in shares of Elevance Health by 102.9% in the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after acquiring an additional 429 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Elevance Health by 29.4% in the first quarter. Evergreen Capital Management LLC now owns 801 shares of the company’s stock valued at $393,000 after acquiring an additional 182 shares in the last quarter. Client 1ST Advisory Group LLC boosted its holdings in shares of Elevance Health by 55.1% in the first quarter. Client 1ST Advisory Group LLC now owns 766 shares of the company’s stock valued at $376,000 after acquiring an additional 272 shares in the last quarter. Continuum Advisory LLC bought a new position in shares of Elevance Health in the first quarter valued at approximately $366,000. Finally, PFS Investments Inc. bought a new position in shares of Elevance Health in the first quarter valued at approximately $304,000. Institutional investors own 87.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ELV. Deutsche Bank Aktiengesellschaft cut their target price on shares of Elevance Health from $581.00 to $571.00 and set a “buy” rating for the company in a research note on Wednesday, March 8th. Royal Bank of Canada increased their target price on shares of Elevance Health from $505.00 to $523.00 and gave the company a “sector perform” rating in a research note on Thursday, January 26th. SVB Leerink restated an “outperform” rating and issued a $580.00 price target on shares of Elevance Health in a research report on Thursday, January 26th. StockNews.com started coverage on shares of Elevance Health in a research report on Thursday. They issued a “strong-buy” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of Elevance Health from $557.00 to $609.00 and gave the company an “overweight” rating in a research report on Wednesday, January 4th. Two 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $583.89.

Elevance Health Stock Performance

NYSE:ELV opened at $463.17 on Friday. Elevance Health, Inc. has a 1 year low of $440.02 and a 1 year high of $549.52. The firm’s fifty day simple moving average is $478.90 and its 200 day simple moving average is $491.53. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $109.98 billion, a PE ratio of 18.68, a PEG ratio of 1.16 and a beta of 0.85.

Elevance Health (NYSE:ELV – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The company reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.20 by $0.03. Elevance Health had a net margin of 3.85% and a return on equity of 19.56%. The firm had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $39.62 billion. During the same period in the prior year, the firm earned $5.14 EPS. The business’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.72 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from Elevance Health’s previous quarterly dividend of $1.28. The ex-dividend date of this dividend is Thursday, March 9th. Elevance Health’s dividend payout ratio (DPR) is presently 23.88%.

About Elevance Health

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Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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