Chemistry Wealth Management LLC Acquires 7,077 Shares of Elevance Health, Inc. $ELV

Chemistry Wealth Management LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 90.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,917 shares of the company’s stock after buying an additional 7,077 shares during the quarter. Elevance Health makes up about 0.9% of Chemistry Wealth Management LLC’s portfolio, making the stock its 21st largest position. Chemistry Wealth Management LLC’s holdings in Elevance Health were worth $4,820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Aspen Investment Management Inc grew its holdings in Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after buying an additional 27 shares in the last quarter. Nilsine Partners LLC grew its stake in Elevance Health by 1.5% during the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after acquiring an additional 29 shares in the last quarter. Regatta Capital Group LLC increased its holdings in Elevance Health by 3.0% during the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after acquiring an additional 30 shares during the period. HBK Sorce Advisory LLC lifted its stake in Elevance Health by 4.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after purchasing an additional 31 shares in the last quarter. Finally, Accurate Wealth Management LLC boosted its holdings in Elevance Health by 4.9% in the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after purchasing an additional 33 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ELV shares. Weiss Ratings cut shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. UBS Group lowered their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Bank of America lifted their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Mizuho lowered their target price on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Sanford C. Bernstein dropped their target price on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Twelve analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Hold” and a consensus price target of $396.21.

Elevance Health Trading Up 0.5%

NYSE ELV opened at $350.59 on Thursday. The stock’s fifty day moving average price is $334.03 and its 200-day moving average price is $328.80. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market cap of $77.92 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.61 and a beta of 0.52. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75.

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

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio is presently 27.96%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.