CHICAGO TRUST Co NA Takes Position in Elevance Health, Inc. (NYSE:ELV)

Posted by Defense World Staff on Mar 22nd, 2023

CHICAGO TRUST Co NA purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV – Get Rating) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 617 shares of the company’s stock, valued at approximately $316,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tompkins Financial Corp acquired a new position in shares of Elevance Health during the fourth quarter worth about $30,000. Accurate Wealth Management LLC acquired a new position in shares of Elevance Health during the fourth quarter worth about $34,000. Bank of New Hampshire acquired a new position in shares of Elevance Health during the fourth quarter worth about $36,000. My Personal CFO LLC acquired a new position in shares of Elevance Health during the fourth quarter worth about $58,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Elevance Health during the fourth quarter worth about $59,000. 87.66% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV opened at $469.70 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market capitalization of $111.53 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.17 and a beta of 0.85. The company’s 50 day simple moving average is $478.80 and its 200 day simple moving average is $491.36. Elevance Health, Inc. has a 1 year low of $440.02 and a 1 year high of $549.52.

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

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be paid a dividend of $1.48 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.28. The ex-dividend date is Thursday, March 9th. This represents a $5.92 annualized dividend and a dividend yield of 1.26%. Elevance Health’s dividend payout ratio is presently 23.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELV. StockNews.com assumed coverage on shares of Elevance Health in a research note on Thursday, March 16th. They set a “strong-buy” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Elevance Health from $581.00 to $571.00 and set a “buy” rating on the stock in a research report on Wednesday, March 8th. SVB Leerink restated an “outperform” rating and set a $580.00 target price on shares of Elevance Health in a research report on Thursday, January 26th. Royal Bank of Canada upped their target price on shares of Elevance Health from $505.00 to $523.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Elevance Health from $555.00 to $572.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $583.26.

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.