CHICAGO TRUST Co NA Takes $255,000 Position in Elevance Health, Inc. (NYSE:ELV)

CHICAGO TRUST Co NA bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 587 shares of the company’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new stake in Elevance Health during the fourth quarter worth $29,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health in the 4th quarter valued at about $30,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $389.66 on Tuesday. 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 stock has a market capitalization of $88.04 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The company has a 50-day simple moving average of $408.71 and a two-hundred day simple moving average of $400.71.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s payout ratio is presently 26.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Mizuho lifted their target price on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Finally, Baird R W lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $498.87.

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.