Cassady Schiller Wealth Management LLC Has $307,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Cassady Schiller Wealth Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 28.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 651 shares of the company’s stock after selling 265 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Elevance Health were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE increased its position in shares of Elevance Health by 4.1% during the fourth quarter. US Bancorp DE now owns 60,461 shares of the company’s stock worth $28,512,000 after acquiring an additional 2,396 shares in the last quarter. Richwood Investment Advisors LLC increased its position in shares of Elevance Health by 0.8% during the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after acquiring an additional 20 shares in the last quarter. Alpha Family Trust bought a new stake in shares of Elevance Health during the fourth quarter worth about $259,000. Pzena Investment Management LLC increased its position in shares of Elevance Health by 0.4% during the fourth quarter. Pzena Investment Management LLC now owns 193,550 shares of the company’s stock worth $91,270,000 after acquiring an additional 722 shares in the last quarter. Finally, Affinity Investment Advisors LLC increased its position in shares of Elevance Health by 62.2% during the fourth quarter. Affinity Investment Advisors LLC now owns 1,054 shares of the company’s stock worth $497,000 after acquiring an additional 404 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial reissued a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. StockNews.com raised shares of Elevance Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group upped their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $587.42.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $4.02 on Thursday, reaching $543.78. 252,898 shares of the company traded hands, compared to its average volume of 1,005,702. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The company has a 50 day moving average of $522.84 and a 200 day moving average of $497.04. The firm has a market capitalization of $126.39 billion, a PE ratio of 20.64, a PEG ratio of 1.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the prior year, the company posted $9.46 EPS. Elevance Health’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

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.