650 Shares in Elevance Health, Inc. $ELV Purchased by Cherokee Insurance Co

Cherokee Insurance Co bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel.com reports. The fund bought 650 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GLOBALT Investments LLC GA boosted its position in Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after purchasing an additional 27 shares during the period. Aspen Investment Management Inc boosted its holdings in shares of Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after purchasing an additional 27 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in shares of Elevance Health by 5.3% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after purchasing an additional 30 shares during the period. Finally, Regatta Capital Group LLC increased its stake in Elevance Health by 3.0% in the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after purchasing an additional 30 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ELV. Mizuho decreased their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Truist Financial set a $400.00 target price on shares of Elevance Health in a research report on Tuesday, October 14th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Leerink Partners reiterated a “market perform” rating and issued a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Barclays dropped their price objective on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $397.33.

Insider Activity

In related news, Director Susan D. Devore bought 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV opened at $327.89 on Thursday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a 50 day moving average of $329.09 and a two-hundred day moving average of $342.54. The company has a market cap of $72.87 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the previous year, the business posted $8.37 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio is presently 27.96%.

Elevance Health 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.