Stonehage Fleming Financial Services Holdings Ltd Raises Stock Position in Elevance Health, Inc. (NYSE:ELV)

Stonehage Fleming Financial Services Holdings Ltd increased its stake in Elevance Health, Inc. (NYSE:ELV) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,300 shares of the company’s stock after purchasing an additional 394 shares during the period. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Elevance Health were worth $848,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp increased its position in shares of Elevance Health by 1.1% during the 2nd quarter. Mackenzie Financial Corp now owns 73,964 shares of the company’s stock valued at $40,078,000 after purchasing an additional 773 shares during the last quarter. Kathmere Capital Management LLC bought a new stake in shares of Elevance Health in the second quarter worth about $210,000. Ascent Group LLC raised its position in Elevance Health by 30.2% during the 2nd quarter. Ascent Group LLC now owns 4,903 shares of the company’s stock valued at $2,657,000 after purchasing an additional 1,138 shares during the last quarter. Creative Planning lifted its holdings in Elevance Health by 10.3% in the 2nd quarter. Creative Planning now owns 31,156 shares of the company’s stock worth $16,882,000 after buying an additional 2,901 shares during the period. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of Elevance Health during the second quarter valued at approximately $19,085,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $401.43 on Monday. The firm has a market cap of $93.10 billion, a P/E ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $386.21 and a 200 day moving average of $461.87.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, research analysts expect that Elevance Health, Inc. will post 32.95 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. Elevance Health’s payout ratio is 23.77%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ELV shares. Wells Fargo & Company cut their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada cut their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $525.60.

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.