Callan Family Office LLC Invests $911,000 in Elevance Health, Inc. (NYSE:ELV)

Callan Family Office LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,469 shares of the company’s stock, valued at approximately $911,000.

Other large investors have also modified their holdings of the company. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the third quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in Elevance Health in the fourth quarter worth $34,000. Dunhill Financial LLC raised its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Elevance Health in the third quarter worth $44,000. Finally, Financial Perspectives Inc purchased a new position in Elevance Health in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.7 %

ELV opened at $409.59 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $93.12 billion, a P/E ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business’s fifty day simple moving average is $390.64 and its 200 day simple moving average is $434.13.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ELV has been the subject of several research analyst reports. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Three investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $517.03.

About Elevance Health

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.